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Tenaga Nasional fiscal Q1 profit climbs 59.4% YOY

Tenaga Nasional Bhd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 29 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 26 sen per share.

EPS rose 59.4% year over year from 18 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.64 billion ringgits, an increase of 59.4% from 1.03 billion ringgits in the prior-year period.

The normalized profit margin climbed to 14.9% from 10.7% in the year-earlier period.

Total revenue rose 15.2% on an annual basis to 11.03 billion ringgits from 9.57 billion ringgits, and total operating expenses climbed on an annual basis to 8.28 billion ringgits from 8.05 billion ringgits.

Reported net income grew 34.4% year over year to 2.35 billion ringgits, or 42 sen per share, from 1.75 billion ringgits, or 31 sen per share.

As of Jan. 22, US$1 was equivalent to 3.59 ringgits.