Tenaga Nasional recorded a jump in its earnings in the third quarter ended May 31, 2016 boosted by the hot weather and high tariffs, says CIMB Equities Research but it expects the fourth quarter earnings to be weaker due to seasonally higher expenses.
It said on Friday that excluding the impact of foreign exchange translation losses, Tenaga’s 3Q16 core net profit rose 30% on-year due mainly to higher electricity consumption and higher tariff.
Electricity consumption in Peninsular Malaysia rose 6.2% yoy in 3Q16 as the hot weather prompted consumers to switch on the air conditioners for longer hours. The hot weather also changed the consumption pattern, which lifted Tenaga’s average tariff from 39.7 sen/kwh in 3Q15 to 40.2 sen/kwh.
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It said on Friday that excluding the impact of foreign exchange translation losses, Tenaga’s 3Q16 core net profit rose 30% on-year due mainly to higher electricity consumption and higher tariff.
Electricity consumption in Peninsular Malaysia rose 6.2% yoy in 3Q16 as the hot weather prompted consumers to switch on the air conditioners for longer hours. The hot weather also changed the consumption pattern, which lifted Tenaga’s average tariff from 39.7 sen/kwh in 3Q15 to 40.2 sen/kwh.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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