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TNB pre-tax profit up 13.2% for 2016

Tenaga May Report 2012 Full-Year Loss on Higher Costs, CEO Says

Syndicated News
Written by Syndicated News

KUALA LUMPUR — October 27, 2016: Tenaga Nasional Berhad’s (TNB) pre-tax profit rose 13.2 per cent to RM8.07 billion for the financial year ended last August 31.

In a filing to Bursa Malaysia today, the company said its revenue rose 2.9 per cent to RM44.53 billion.

This is mainly due to the increase in the group’s sales of electricity of 4.5 per cent or RM1.93 billion to RM45.39 billion, mainly from Peninsular Malaysia which recorded a rise of 4.6 per cent.

For the fourth quarter, its pre-tax profit climbed to RM1.87 billion from RM1.41 billion but revenue declined to RM11.23 billion from RM11.74 billion previously.

The significant drop in revenue was mainly due to higher amount of over-recoverability of Imbalance Cost Pass-Through (ICPT) tariff rebate recognised during the current quarter, amounting to RM856.0 million compared
to RM34.0 million in the corresponding quarter a year ago. — Bernama

 

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