Tenaga Nasional posts profit in Q3
KUALA LUMPUR, July 19 – National power producer Tenaga Nasional Bhd said in a filing to the local stock exchange today that for Q3 ended May 31 net profit stood at RM619.1 million from RM179.2 million loss the same period a year ago.
The better performance was due to improvement of electricity sales in mainland Malaysia and tariff increases.
Going forward, Tenaga said it expects to record better performance due to higher power demand and more coal plant availability.
Shares of Tenaga rose 0.3 per cent today to RM6.75 a share, outperforming Malaysia’s benchmark stock index’s 0.02 per cent fall. – Reuters