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Tenaga Nasional 9-month profit plunges YOY

Malaysian electric utility company Tenaga Nasional Bhd. reported profit after tax of 3.90 billion ringgit for the nine months to September, down 24.7% from 5.18 billion ringgit a year ago.

Normalized profit after tax fell 9.5% year over year to 4.00 billion ringgit from 4.42 billion ringgit.

Revenue increased 8.3% to 37.85 billion ringgit from 34.95 billion ringgit in the year-ago period.

EBITDA declined 6.0% to 10.89 billion ringgit from 11.58 billion ringgit, bringing EBITDA margin down 4.3 basis points.

As of Nov. 27, US$1 was equivalent to 4.19 Malaysian ringgit.