TNB net profit up 34% despite lower sales

TNB said net profit in the first quarter has increased to RM958.7mil as compared to RM717.9mil a year earlier. Revenue, on the other hand, fell by 1.5% y-o-y to RM11.48mil.

PETALING JAYA: Despite lower sales of electricity in the first three months of 2021, Tenaga Nasional Bhd (TNB) began its new financial year on a strong footing as net profit in the first quarter ended March 31 surged by 33.5% year-on-year (y-o-y).

TNB said net profit in the first quarter has increased to RM958.7mil as compared to RM717.9mil a year earlier.