PLN swings to profit on higher tariff

State-owned electricity company PLN swung to profit in the first nine months of this year, booking a net profit of Rp 15.3 trillion, compared to a net loss of Rp 21.4 trillion in the same January-September period of last year, on higher electricity tariff, higher number of customers and lower cost.

The company said in its website that revenue increased by 18.4 percent to Rp 218.7 trillion from Rp 184.7 trillion.

Electricity tariff for certain group of customers increased by 15 percent during the period. Electricity sales during the January-September period rose by 20.6 percent to Rp 133.3 trillion compared to Rp 110.5 trillion in the corresponding period of last year.

PLN expects the total number of customers this year to increase to 56-57 million from 54 million last year. (*)