Tenaga Nasional Bhd posted operating profit of RM942mil in the first quarter ended Nov 30 last year compared with an operating profit of RM1.68bil a year ago.
Announcing the results on Monday, the utility giant said it made a net loss of RM944mil in Q1, due to foreign exchange translation losses of RM1.4bil compared with a forex gain of RM242mil a year ago.
Its revenue rose to RM7.89bil in Q1 from RM6.21bil a year ago, mainly due to the increase in tariffs effective from July 2008.
Basic loss per share was 21.78 sen compared with earnings per share of 34.97 sen.
Tenaga said its operating expenses increased significantly by RM2.32bil or 48.9%, which was mainly due to the higher fuel costs and payments to the independent power producers.
“As for the forex, the ringgit has weakened against the major currencies the group is exposed to, namely the Japanese yen and US dollar, thus recording a loss of RM1.44bil,” it said.
Announcing the results on Monday, the utility giant said it made a net loss of RM944mil in Q1, due to foreign exchange translation losses of RM1.4bil compared with a forex gain of RM242mil a year ago.
Its revenue rose to RM7.89bil in Q1 from RM6.21bil a year ago, mainly due to the increase in tariffs effective from July 2008.
Basic loss per share was 21.78 sen compared with earnings per share of 34.97 sen.
Tenaga said its operating expenses increased significantly by RM2.32bil or 48.9%, which was mainly due to the higher fuel costs and payments to the independent power producers.
“As for the forex, the ringgit has weakened against the major currencies the group is exposed to, namely the Japanese yen and US dollar, thus recording a loss of RM1.44bil,” it said.
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