YTL Corporation reported its second quarter results revenue increasing to RM7.53 billion as compared to RM6.59 billion recorded in the preceding year corresponding quarter. The group’s profit after tax soared to RM589 million against RM96 million recorded in Q2FY23 reflecting a 6 fold increase.
For the six-month period ended 31 December 2023, the Group revenue was RM15.05 billion as compared to RM13.08 billion, recorded in the preceding year corresponding period. The Group profit before tax stood at RM2,489.9 million. This represents an increase of RM1,999.4 million or 407.6% as compared to a profit before tax of RM490.6 million recorded in the preceding year corresponding six-month period ended 31 December 2022.
The main contributor for jump was from the utility division, the Power generation division, revenue and profit before taxation increased to RM3,750.8 million and RM1,033.6 million from RM3,386.8 million and RM301.5 million, representing an increase of 10.7% and 242.9% when compared to the preceding year corresponding quarter. This the group said was mainly due to better margins and the strengthening of Singapore Dollar against Ringgit Malaysia.
Water & sewerage division, revenue increased to RM1,192.4 million from RM1,039.4 million, representing an increase of 14.7% whilst loss before tax increased to RM69.5 million from loss before tax of RM16.1 million when compared to the preceding year corresponding quarter.
