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