YTL Power International Berhad recorded revenue of RM2,959.5 million (US$711.4 mn) for the 3 months ended 30 September 2019, compared to RM2,803.4 million (US$673.9 mn) for the preceding corresponding quarter ended 30 September 2018. Profit before tax stood at RM107.7 million (US$25.9 mn) for the quarter under review compared to RM190.7 million (US$45.9 mn) for the same period last year.
Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, Executive Chairman of YTL Power, said, ”YTL Power’s revenue increased by 5.6% for the quarter, contributed mainly by the merchant multi utilities and investment holding segments, with profit before tax of RM107.7 million.
”The multi utilities segment registered higher revenue on the back of higher sales of fuel oil and higher volumes of electricity sold, although the segment incurred a loss before tax due to the industry’s significant reduction in vesting contract levels and losses on sales of fuel oil, partially offset by lower depreciation charges. Nevertheless, EBITDA for the segment remained positive.
”Higher revenue in the water and sewerage segment arose mainly due to an increase in the price allowed by the industry regulator, with higher operating costs leading to lower profit before tax for the quarter.
”Meanwhile, better performance in the investment holding segment was due primarily to the recognition of accrued technical service income and a fair value gain on investment. The telecommunications business saw a decrease in revenue and a higher loss before tax resulting from the absence of project revenue in the current quarter, although EBITDA for the segment remained positive.”