TNB’s PAT Down 28.1%, Revenue Up 7.9% in 1st Quarter FY2019
28/05/2019
Tenaga Nasional Berhad (TNB) today announced higher revenue for the first quarter of 2019 on the back of stronger electricity sales but Group Profit after Tax for the period was lower due to Other Regulatory Adjustment and impairments.
Releasing its first quarter results for the financial year ending 31st December 2019 (1QFY2019), TNB said Group revenue rose 7.9% to RM13.24 billion for the first three months of the year compared with the same period of last year.
The Group’s EBITDA also recorded an increase, up by 17.6% at RM4.96 billion, given an EBITDA Margin of 37.5% due to the impact of the Malaysian Financial Reporting Standards (MFRS) 16.
However, Group Profit after Tax or PAT declined 28.1% to RM1.52 billion for the quarter as a result of Other Regulatory Adjustments to be returned, impairments for its international investments and higher tax in the quarter due to reinvestment allowance incentive is no longer available in the current year of assessment.
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