Indonesia State Power Company PLN Reports $2.8 bln Q1 Loss

Indonesia’s state electricity company Perusahaan Listrik Negara (PLN) reported on Monday in its quarterly financial statement a 38.88 trillion rupiah ($2.77 billion) loss in the first three months of 2020.

This compared to a 4.16 trillion rupiah profit it recorded in the same period the year earlier.

PLN in April said that it had cut its 2020 revenue target by nearly 15% and wanted to push back debt payments, citing a coronavirus-related hit to demand. ($1 = 14,050.0000 rupiah) Indonesia’s state electricity company Perusahaan Listrik Negara (PLN) reported on Monday in its quarterly financial statement a 38.88 trillion rupiah ($2.77 billion) loss in the first three months of 2020.

This compared to a 4.16 trillion rupiah profit it recorded in the same period the year earlier.