TNB released its FY23Q3 financial report with the current quarter recording revenue of RM13.466 billion resulting from sales of electricity of 3.9% of RM492 million. Profits after taxation were lower by 9.8% at RM877 million versus RM972 million registered in the preceding year’s quarter.
The utility giant attributed the drop in PAT for the quarter being due to negative fuel margins and cushioned by lower tax expenses and foreign exchange translations.
However, against the previous quarter, TNB saw its current quarter increase substantially against the quarter two profit of RM270.9 million which is an increase of RM606 million. The increase was mainly due to foreign exchange translation gain and net reversal on impairment of financial instruments.
