Jakarta. Renewable energy company Arkora Hydro (ARKO) recently announced that it had recorded a solid performance in the first quarter of 2025 as its net profit hit Rp 21.1 billion (approximately $1.3 million).

The company logged an operating revenue worth Rp 71.1 billion (around $4.3 million) in the first three months of 2025. This marked a 54.8 percent year-on-year (yoy) jump from Q1 2024. 

ARKO attributed the growth to the normalization of the impact of El Nino, which had peaked at the end of 2023. This enabled the company to produce 39.2 gigawatt-hour (GWh) of electricity in Q1 2025 from the Cikopo Project, Tomasa Project, and Yaentu Project. The generated power grew 62.9 percent yoy. Yaentu Project had only entered operations in the fourth quarter of last year. The growing operational performance caused ARKO's net profit to grow 38.1 percent yoy, reaching Rp 21.1 billion. ARKO posted a profit margin of 29.7 percent in the first quarter of 2025.

ARKO's total assets stood at Rp 1,465.9 billion, growing 20.5 percent you, thanks to the company's 35.4 percent yoy cash growth. Its liabilities totaled Rp 993.4 billion, up 30.1 percent yoy. The short-term and long-term liabilities had grown 30.5 percent yoy and 30 percent yoy, respectively. Its equity also rose 4.3 percent yoy to Rp 472.5 billion.

The company reported that it had sped up the construction progress of its power plants in the first quarter, namely the Kukusan II Project (5.4 megawatts) in Lampung and the Tomoni Project (10 megawatts) in South Sulawesi. Their progress has reached 70.9 percent and 22.7 percent, respectively. ARKO said they could reduce emissions by more or less 99,937 tons of CO2eq per year once the aforementioned projects began operating.

There are currently 3 projects that have entered operations. ARKO reported that it was able to cut emissions by more or less 235,950 tons of CO2eq between 2017 and 2024. The company seeks to support Indonesia's goal of achieving net-zero emissions by 2060.

ARKO's President Director Aldo Artoko said that he expected the cash flow from the state-run utility firm PLN as the offtaker could increase as the company operates more power plants. ARKO seeks to continue pursuing healthy financial performance growth while continuing to increase the capacity of power plant projects, which currently stands at 261.2 MW.

"With more power plant projects being completed, we are confident that we will be able to continue to maintain our commitment to powering Indonesia with clean energy and running a sustainable business," Aldo said.