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
-
-
-
-
Mapping SEA’s leading cleantech players2 hours ago
-
-
CapitaLand Ascendas REIT3 hours ago
-
-
Record Breaking Day of Loss12 hours ago
-
-
-
-
-
-
-
Cory Diary : Portfolio Updates17 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Coney Island – 3rd Visit2 days ago
-
Sell Banks And Buy REITs?3 days ago
-
-
-
Month of March 20253 days ago
-
Portfolio Update March 20253 days ago
-
Portfolio Summary for March 20253 days ago
-
-
-
-
-
-
-
-
Who am I?4 days ago
-
-
AEM share price lost aura5 days ago
-
-
-
-
Portfolio (Mar 31, 2025)6 days ago
-
Portfolio (Mar 31, 2025)6 days ago
-
-
-
March 2025 Updates6 days ago
-
-
China versus US (stocks)1 week ago
-
-
-
-
-
-
-
-
Going short2 weeks ago
-
FAQ on Quantitative Investing2 weeks ago
-
-
-
-
-
-
-
-
-
-
Why do I top up my ASM3?4 weeks ago
-
Another one bites the dust4 weeks ago
-
-
Trading Journal As Of 21 Feb 20255 weeks ago
-
-
-
-
The Ultimate SG-JB Geo Arbitrage: Petrol1 month ago
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?2 months ago
-
Tiger Brokers (New Promo)2 months ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!3 months ago
-
Top 10 Highlights of 20243 months ago
-
Why do I question about life?3 months ago
-
-
-
-
My Palantir Regret4 months ago
-
2023 Trading Recap – $11,000 in profit!4 months ago
-
-
Union Square Residences5 months ago
-
-
-
-
STI ETF6 months ago
-
-
-
Unibet Casino Bonus Codes 20246 months ago
-
-
-
-
-
-
Monthly IBKR Update – June 20248 months ago
-
-
-
-
-
-
-
Breakthroughs in portfolio :)10 months ago
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
-
-
-
-
A New Light1 year ago
-
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment2 years ago
-
Terra Hill Condo (former Flynn Park)2 years ago
-
Alibaba VS Tencent: The Battle Royale2 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Home
TENAGA
Tenaga Nasional's net profit eased 0.6pc to RM1.003bil in Q3 back of improved economic activities