TNB quarterly net profit at RM1bil

Over the three quarters to Sept 30, TNB posted revenue of RM33.65bil, which was 13.19% lower from RM38.75bil in the same period last year due to the over-recovery position of the Imbalance Cost Pass-Through and lower electricity sales due to Covid-19.

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) net profit for the third quarter ended Sept 30, came to RM1.01bil, a 16.07% drop from RM1.2bil in the previous corresponding quarter due to higher finance cost, which was cushioned by foreign exchange gain and a non-cash fair value gain.

Revenue for the quarter was 12.1% lower year-on-year at RM11.11bil.