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
-
-
-
-
-
-
-
-
-
-
-
How to we keep the dead alive?15 hours ago
-
-
-
-
-
-
-
-
The History of CapitaLand22 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates3 days ago
-
-
-
-
-
Keyboarding Warriors4 days ago
-
-
-
-
Cory Diary : Portfolio updates5 days ago
-
-
-
Weekly Markets Outlook5 days ago
-
-
Portfolio Update6 days ago
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
2024 (Portfolio Update)3 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 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