TNB Recorded 3.6% Unit Electricity Demand Growth
- Revenue lower by 2.2% due to ICPT over-recovery amount from lower fuel prices
- Adjusted Profit After Tax of RM3.07 billion, a 7.7% improvement over 1HFY2015
Kuala Lumpur, 27th April 2016 – Tenaga Nasional Berhad (TNB) today announced that the Group revenue for the 1st Half of the Financial Year ending 31st August 2016 (1HFY2016) was RM21.17 billion, 2.2% lower than the RM21.64 billion recorded in the corresponding period last year. The decline in revenue was due to the recognition of the Imbalance Cost Pass-Through (ICPT) over-recovery amount of RM1.39 billion, resulting from the reduction in generation costs due to lower fuel prices.
TNB’s Profit After Tax (PAT) for the period was RM3.28 billion, a decrease of 26.9% compared to the PAT of RM4.48 billion reported for the corresponding period last year.
The reporting of the ICPT in TNB’s financial statements was first reflected in 3QFY2015, after thorough review and deliberation between TNB and the relevant regulatory parties. As a result, TNB’s adjusted PAT for 1HFY2016 recorded an improvement of 7.7% at RM3.07 billion compared to the RM2.85 billion recorded during the corresponding period last year. The improvement was mainly attributed by unit electricity demand growth of 3.6% recorded in 1HFY2016 for Peninsular Malaysia.
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