Tenaga Nasional Bhd posted an 8.2% rise in net profit to RM1.1bil for the third quarter ended May 31 versus RM1.02bil in the same quarter of 2009 on higher electricity demand.
Revenue for the quarter rose 1% to RM7.7bil from RM7bil year-on-year.
In a filing to the stock exchange today, the company said sales of electricity in Peninsular Malaysia recorded an increase of 12.1% or RM771.6mil and units sold registered a growth of 13.7% as compared with the corresponding period.
For the nine months ended May 31, net profit jumped 273.3% to RM2.81bil versus RM753.6mil recorded in the same period of last year.
Revenue rose 5.3% to RM22.4bil for the period against RM21.3bil.
Tenaga said the improvement in earnings was the result of continuing increase in demand growth, better cost control and the stronger ringgit.
“The appreciation of the ringgit has resulted in a foreign exchange translation gain of RM668.1mil as compared with a loss of RM933.5mil in the third quarter of 2009,” it said.
by thestar.com.my
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