TNB Q3 net profit surges to RM1.2bil

For the first nine months of financial year 2019 (FY19), TNB’s net profit came in marginally higher at RM3.87bil on higher sales of electricity, improved performance in its share of results of associates and lower impairments recorded during the period. Revenue for the period, meanwhile, was up only 2.4% year-on-year (y-o-y) despite its sales of electricity increasing by 4.2% as compared with the previous corresponding period.

PETALING JAYA: Analysts are expecting another strong quarter ahead as Tenaga Nasional Bhd (TNB) recorded a steep 140% jump in third-quarter (Q3) net profit to RM1.2bil.

The utility giant saw its operating expenses for the period being pushed down by lower fuel costs, resulting in the surge in profit.