Tenaga Nasional's net profit eased 0.6pc to RM1.003bil in Q3 back of improved economic activities
TNB president and chief executive officer Datuk Ir Baharin Din said the group recorded another period of resilient performance, mainly on improved economic activities.
KUALA LUMPUR: Tenaga Nasional Bhd's (TNB) net profit eased 0.6 per cent to RM1.003 billion in the third quarter (Q3) ended September 30, 2021, from RM1.009 billion recorded in the same quarter a year ago.
Revenue in the same quarter increased 16.8 per cent to RM12.98 billion from RM11.11 billion.
TNB president and chief executive officer Datuk Ir Baharin Din said the group recorded another period of resilient performance, mainly on improved economic activities.
He said however, TNB saw a contraction of 6.7 per cent of its Q3 electricity sales compared with the previous quarter, an effect of the shifting dynamics caused by the ongoing pandemic.
"We continue to brace ourselves for prevailing uncertainties ahead. Nevertheless, we see potential room for growth.
"As the custodian of the nation's critical power infrastructures, maintaining reasonable returns is critical for TNB to balance value creation for our shareholders and to reinvest into the system to ensure reliable and secure power supply," he said.
On a positive note, he said the increase in demand is expected to improve in the coming months and into next year as more economic activities open for business.
"TNB also continues to work with the government on multiple fronts to support the nation's economic recovery.
"These include multiplier effect initiatives through our ongoing scholarship programmes, vendor development programmes, as well as an intensive re-skilling programme to train and place workers in jobs," he added.
For the nine months, TNB's net profit increased 16.9 per cent to RM2.78 billion from RM2.38 billion, while revenue increased 9.6 per cent to RM36.89 billion from RM33.65 billion.
Moving forward, TNB believes that the improvement in the overall economy will result in higher electricity demand and support the positive momentum seen across the group's operation.
"Amid the encouraging developments, the group foresees a stable performance for the remaining quarter of the financial year.
"Nonetheless, the group will continue to take prudent measures in terms of its operational and financial requirements to ensure it remains resilient," it added.
https://www.nst.com.my/business/2021/11/748770/tenaga-nasionals-net-profit-eased-06pc-rm1003bil-q3-back-improved-economic
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
5 Singapore Stocks Under Pressure7 hours ago
-
-
QAF #77 - 2023 Annual Report9 hours ago
-
-
-
-
-
-
-
-
-
The Secret To Investing1 day ago
-
-
-
-
-
-
-
-
-
-
-
The Green U-Turn2 days ago
-
-
-
Week Ahead3 days ago
-
Burnt out!3 days ago
-
-
-
-
Feb 2024 Expenditure4 days ago
-
-
-
-
-
-
-
Not Worth It5 days ago
-
Trip to Legoland5 days ago
-
-
-
-
-
-
-
-
-
-
Starting Our Second Property Cycle1 week ago
-
-
-
Position Update1 week ago
-
-
Finance Investment Movement 431 week ago
-
-
-
-
-
MAS Singapore Gold Vault2 weeks ago
-
-
Gaining And Holding2 weeks ago
-
-
-
-
Book Giveaway- Winners2 weeks ago
-
-
ICYMI: Corporate Connect with Singpost2 weeks ago
-
-
Just sold at record high!3 weeks ago
-
-
-
-
-
-
-
-
-
Monthly IBKR Update – Feb 20243 weeks ago
-
-
Feb 2024 Portfolio3 weeks ago
-
Rethinking my financial targets for 20243 weeks ago
-
-
-
-
-
Summary of February 20243 weeks ago
-
Portfolio (Feb 29, 2024)4 weeks ago
-
Portfolio -- Feb 20244 weeks ago
-
The Market Is A Scam!4 weeks ago
-
-
-
-
-
-
-
-
-
-
-
Today’s Deal of the day – Max Miles5 weeks ago
-
-
Options Trading Journal Jan 20241 month ago
-
-
-
-
-
-
-
-
-
-
-
End of 2023 Review2 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report2 months ago
-
Monthly Summary of November 20233 months ago
-
3 Simple Poker Strategies for Beginners3 months ago
-
Migration of website4 months ago
-
-
Abandon REITS?4 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates6 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
I am in debt9 months ago
-
A New Light10 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-
Home
TENAGA
Tenaga Nasional's net profit eased 0.6pc to RM1.003bil in Q3 back of improved economic activities