YTL Power posts higher Q1 net profit

KUALA LUMPUR: YTL Power International Bhd, the utility subsidiary of the YTL Corp Bhd, registered improved earnings in the first quarter ended Sept 30 despite a decline in sales.

Net profit rose to RM76.9mil compared with RM67.3mil made a year ago.

Revenue dropped to RM2.5bil from RM2.96bil previously.

"The higher profit before taxation as compared to preceding quarter was primarily attributable to the better performance in the segments of Multi utilities business (Merchant) and Water & sewerage, partially offset by lower profit in Investment holding activities," it said.

The group has operations spanning power generation, water, sewerage treatment and telecommunications in several countries.

"Despite the challenging outlook, the Group expects the performance of its business segments to remain resilient due to the essential nature of its operations, and will continue to closely monitor the related risks and impact on all business segments," it said.

Separately, parent company YTL Corp reported a net profit of RM1.23mil compared with RM15.3mil made a year ago.

Revenue was RM4.18bil.

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