PLN loss widens on fuel prices

PLN loss widens on fuel prices

JAKARTA: PT Perusahaan Listrik Negara (PLN), Indonesia's state-owned power utility, reported first-half loss widened as it spent more on fuel to fire its power plants and had a foreign exchange loss.

PLN had a loss of Rp 3.74 trillion (US$408 million), or Rp 81,018 a share, in the period ended June 30, from a loss of Rp 2.85 trillion, or Rp 61,834 a share, in the year-earlier period, the company said in a statement published in the Bisnis Indonesia newspaper.

Jakarta-based PLN said power sales rose to Rp 28.34 trillion in the first half, from Rp 23.05 trillion a year earlier. The company booked a foreign exchange loss of Rp 1.68 trillion during the period, from a gain of Rp 1.25 trillion a year ago.-- Bloomberg