PT PLN (Persero) posted growth in net profit in the period ended on December 31, 2020, of 38.6% to Rp5.9 trillion from Rp4.3 trillion in the previous year.

"PLN's net profit in 2020 could increase by Rp13.6 trillion, if it does not consider the recording of unrealized foreign exchange loss of Rp7.7 trillion, as well as additional revenue recognition from customer connection of Rp5.9 trillion, if the recording is carried out the same as in 2019 which have not implemented PSAK 72 yet, "said the President Director of PLN, Zulkifli Zaini in a written statement, Tuesday (25/5).

The growth in net profit was supported by operating revenues that were successfully booked at Rp345.4 trillion. Of this amount, electricity sales revenue reached Rp274.9 trillion, including the Covid-19 stimulus subsidy of Rp13.8 trillion, helping 33 million customers. In addition, there was a subsidized income of Rp48 trillion, which reached 37 million customers, and compensation