TNB Announced 1st Quarter Financial Year ending 31st August 2016
CHALLENGING OUTLOOK AMID UNCERTAIN GLOBAL ECONOMIC LANDSCAPE
3 months ended 30th November 2015 (1st Quarter FY2016)
• 16.5% reduction in Profit After Tax of RM1.96 billion (1QFY2015 : RM2.35 billion)
• RM58.5 million Forex Translation Loss (1QFY2015 : Gain of RM45.9 million)
• 3.2% decline in Revenue
• 3.2% unit electricity demand growth in Peninsular Malaysia
Tenaga Nasional Berhad (TNB) today announced 16.5% reduction in Profit After Tax of RM1.96 billion for the 1st Quarter of the Financial Year ending 31st August 2016 (FY2016), as compared to RM2.35 billion reported for the same period last year.
The Group also recorded a Forex Translation Loss amounting to RM58.5 million for the quarter, as compared to Forex Translation Gain of RM45.9 million recorded in corresponding period last year, resulted from the continued Ringgit depreciation during the period under review.
The Group reported total revenue of RM10.68 billion in 1QFY2016 as compared to RM11.03 billion recorded in corresponding period last year, reflecting a decrease of 3.2%. This is due to the recognition of Imbalance Cost Pass-Through (ICPT) over-recovery for 1QFY2016 amounting to RM681.8 million.
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