Soaring Profits! PLN's Net Profit Reaches Rp25.91 Trillion in the First Half of 2023

PT PLN (Persero) has set a new record with a current period profit reaching Rp25.91 trillion in June 2023 (or the first half of 2023).

This figure surpasses the year-on-year (YoY) profit for the same period in June 2022, which was Rp17.38 trillion.

This net profit is also the highest compared to the 2022 annual report, which recorded Rp14.4 trillion.

(Read also: PLN Records Rp14 Trillion Profit in 2022, a New High)

The unaudited report shows that the largest profit came from net foreign exchange gains, reaching Rp11.24 trillion in June 2023. This figure significantly exceeds the previous achievement, which resulted in a loss of Rp5.34 trillion (YoY).

The increase in all components of operating income also boosted PLN's profit this semester. Total revenue was recorded at Rp234.51 trillion in June 2023, up from Rp211.66 trillion (YoY).

The details are as follows: electricity sales of Rp159.97 trillion, up from Rp150.55 trillion (YoY); customer connections of Rp584.33 billion, up from Rp382.46 billion (YoY); government electricity subsidies of Rp32.06 trillion, up from Rp26.18 trillion (YoY); compensation income of Rp37.85 trillion, up from Rp31.22 trillion (YoY); and other income of Rp4.03 trillion, up from Rp3.31 trillion (YoY).

However, operating expenses for this period were also quite high, at Rp202.23 trillion. In June 2022, the company's expenses reached Rp175.48 trillion.

Currently, the assets of the state-owned enterprise (SOE) are recorded at Rp1.64 quadrillion. Liabilities (debt) amount to Rp482.49 trillion, and equity (capital) amounts to Rp1.01 quadrillion.

This June 2023 financial report was issued on July 28, 2023, under the approval of PLN's President Director, Darmawan Prasodjo, and its Finance Director, Sinthya Roesly.

(Read also: Supported by the Business Sector, PLN's Electricity Sales Reach 137.12 TWh as of June 2023)