YTL Power International : 3rd Quarter Profit After Tax Surges 166% to RM508 Million

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YTL Power's 3rd Quarter Profit After Tax Surges 166% to RM508 Million

Kuala Lumpur, Thursday, 25 May 2023 

YTL Power International Berhad recorded a 14% increase in revenue to RM5,357.5 million for the current quarter ended 31 March 2023 compared to RM4,702.8 million for the previous quarter ended 31 December 2022. Profit before tax increased by 138% to RM610.4 million for the current quarter compared to RM255.9 million last quarter, whilst profit after tax surged 166% to RM507.6 million this quarter compared to RM190.7 million last quarter.

The Board of Directors of YTL Power declared an interim dividend of 2.5 sen per ordinary share, the book closure and payment dates for which are 12 June 2023 and 28 June 2023, respectively.

Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, Executive Chairman of YTL Power, said, "The significant improvement in our results arose primarily from better performance in the power generation segment".

For the cumulative 9 months ended 31 March 2023, revenue grew 12% to RM14,804.7 million compared to RM13,268.2 million for the previous corresponding 9 months ended 31 March 2022. Profit before tax increased 309% to RM1,091.2 million for the current 9-month period compared to RM266.5 million (after adjusting mainly for the net gain of RM947.1 million arising from the gain on disposal of the investment in ElectraNet) for the previous corresponding period.

EBITDA (earnings before interest, tax, depreciation and amortisation) for the 9 months ended 31 March 2023 remained resilient, increasing 10% to RM3.1 billion, over RM2.8 billion for the same period last year.

Comparison with preceding quarter

	3 months ended 31.03.2023 RM million	3 months ended 31.12.2022 RM million	Variance
Revenue	5,357.5	4,702.8	+14%
Profit before tax	610.4	255.9	+138%
Profit after tax	507.6	190.7	+166%

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