Tenaga Nasional registers RM2.12b net profit in Q1

PETALING JAYA: Tenaga Nasional Bhd (TNB) reported a net profit of RM2.12 billion for three months ended March 31, 2018.
Revenue, meanwhile, stood at RM12.27 billion for the quarter under review.
Due to the change in the financial year from August 31 to December 31, its performance of the current period is not comparable against any comparative period previously reported.
The electricity firm said in a filing with the stock exchange that the return for regulated business under the incentive based regulation framework that mainly consists of transmission and distribution businesses contributed to 45.9% of the group's net profit.
TNB believes that electricity demand growth will continue given the 5.4% economic growth achieved in the first quarter of the year as well as Bank Negara's expectation that the local economy will remain on a favourable growth path in 2018.
Its share price gained 28 sen or 1.9% to close at RM15.04 on some 15.2 million shares done.