PLN Posts Rp 10.5t Loss in H1 as Revenue Falls, Rupiah Weakens

State-owned utility PLN reported a loss of Rp 10.5 trillion ($787 million) in the first half of 2015, citing falling revenue and weak rupiah.

The earnings, reported on Wednesday, come in stark contrast to the Rp 14.5 trillion in profit the company posted in the same period last year.

The electricity company’s total revenue fell by 9.8 percent to Rp 132.5 trillion in the January to June period from the same period last year.

Contributing to the drop in the revenue was a 52.5 percent cut in the government’s electricity subsidy to Rp 27.4 trillion.

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Posted September 1, 2015 by repit in News

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