KUALA LUMPUR: Tenaga Nasional reported net profit of RM706.3 million for the first quarter ended Nov 30, 2009 compared to the whopping loss of RM944.1 million a year ago, underpinned by lower operating costs.
It said on Monday, Jan 20 the strong performance was led by 6.1% decline in operating costs mainly attributed by lower generation costs.
During its first quarter, there was an improvement in electricity demand growth by 2.7% in Peninsular Malaysia.
However, group revenue fell 1.0% to RM7.338 billion from RM7.414 billion mainly due from the impact of the tariff adjustment effective from March 1, 2009.
Tenaga president and CEO Datuk Seri Che Khalib Mohamad Noh said "the 11.3% decline in generation costs contributed to the increase of 39.3% in operating profit."
Consequently, the group's earnings before interest, taxation, depreciations and amortisation margin improved to 29.5% from 22.2% a year ago.
"With the reduction in gas allocation from 1350 mmscfd to 1250 mmscfd effective from March 2009, generation from coal-fired plants is expected to increase as future demand growth will be required to be met from coal generation," he said.
In minimising exposure from high market conditions, Tenaga was staggering the coal price negotiations of its contract prices
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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