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TNB posts lower FY2022 earnings amid higher finance cost, tax expenses

27 Feb 2023 06:23pm
The electric utility says despite the 16.5 per cent higher operating profit, earnings were lower due mainly to higher finance cost and tax expenses, including an additional tax in the form of Cukai Makmur totalling RM340.8 million for the year. 
The electric utility says despite the 16.5 per cent higher operating profit, earnings were lower due mainly to higher finance cost and tax expenses, including an additional tax in the form of Cukai Makmur totalling RM340.8 million for the year. 
KUALA LUMPUR - Tenaga Nasional Bhd’s (TNB) net profit eased 5.4 per cent to RM3.46 billion in the financial year ended Dec 31, 2022 (FY2022) from RM3.66 billion in the preceding year.

The electric utility said despite the 16.5 per cent higher operating profit, earnings were lower due mainly to higher finance cost and tax expenses, including an additional tax in the form of Cukai Makmur totalling RM340.8 million for the year.

Revenue for FY2022, however, rose to RM50.87 billion from RM48.12 billion, mainly due to 5.6 per cent higher electricity sales of RM2.65 billion amid demand growth of 5.2 per cent, TNB said in a filing with Bursa Malaysia today. -Bernama

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