YTL Power Records 3rd Quarter Revenue of RM2.9 Billion (US$691 Million) & Profit Before Tax of RM167 Million (US$40 Million)
Kuala Lumpur, Friday 31 May 2019
YTL Power International Berhad recorded revenue of RM2,887.6 million (US$690.8 mn) for the quarter ended 31 March 2019, declining marginally compared to RM2,927.4 million (US$700.3 mn) for the previous quarter ended 31 December 2018. However, profit before tax increased by 29.7% to RM167.3 million (US$40.0 mn) for the current quarter compared to RM129.0 million (US$30.9 mn) for the previous quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of YTL Power, said, "The increase in profit before tax in the current quarter was mainly due to the absence of a one-off recognition of an allowance for the impairment of receivables following a court decision on outstanding litigation in the merchant multi utilities segment recognised in the previous quarter. Higher profit before tax in the current quarter was also the result of better returns in the investment holdings segment, moderated by the lower returns in the water and sewerage segment".
For the cumulative 9 months ended 31 March 2019, YTL Power registered a 10.5% increase in revenue to RM8,618.4 million (US$2,061.8 mn) compared to RM7,798.6 million (US$1,865.7 mn) for the preceding corresponding 9 months ended 31 March 2018. Profit for the period stood at RM391.0 million (US$93.5 mn) for the cumulative 9 months under review over RM485.5 million (US$116.1 mn) for the same period last year.