KAI Turns Loss into Profit in the First Half of 2022
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State-Owned Enterprise (SOE) PT Kereta Api Indonesia (Persero), or KAI, recorded positive performance in the first half of 2022. The return of mobility led to increased revenue and a turnaround from loss to profit.
KAI recorded revenue of Rp11.76 trillion in the first half of 2022. This revenue increased by 58% year-on-year (yoy) from Rp7.46 trillion in the first half of 2021.
This revenue comprises transportation and other business revenue of Rp9.81 trillion and construction revenue of Rp1.95 trillion. Both revenue items recorded year-on-year increases.
The positive note in revenue also led KAI to record a net profit of Rp759.09 billion. This is in contrast to a loss of Rp454.47 billion in the same period last year.
Not only passenger transportation, but KAI's freight transportation also showed a 15% increase. The transportation of commodities such as coal, fuel oil, and CPO experienced an increase in volume.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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