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YTL Power Records 2nd Quarter Revenue of RM2.6 Billion (US$648 Million) & Profit Before Tax Increases 90% to RM207 Million (US$51 Million)



Kuala Lumpur, Thursday, 25 February 2021 

YTL Power International Berhad recorded an increase in revenue to RM2,616.6 million (US$647.7 mn) for the quarter ended 31 December 2020 compared to RM2,502.8 million (US$619.5 mn) for the previous quarter ended 30 September 2020. Profit before tax increased by 90% to RM206.6 million (US$51.1 mn) for the quarter ended 31 December 2020 compared to RM108.9 million (US$26.9 mn) in the previous quarter.

Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping, KBE, CBE, FICE, Executive Chairman of YTL Power, said, “The significant improvement in YTL Power’s profit for the current quarter under review resulted primarily from better performance recorded by YTL PowerSeraya Pte Limited, which carries out the Group’s merchant multi-utilities business in Singapore, due to higher retail and vesting gross margins, higher fuel oil tank leasing rates, lower finance costs and the successful recovery of receivables upon the resolution of a litigation case.

“The essential nature of YTL Power’s businesses has ensured that these services continue to function despite restrictions imposed to curb the ongoing pandemic, and the earnings before interest, tax, depreciation and amortisation (EBITDA) for the first half of the 2021 financial year stood strong at RM1.4 billion, approximating performance for the same period last year.”

 

Comparison with Preceding Quarter

  Current Quarter
31.12.2020
RM ‘000
Preceding Quarter
30.09.2020
RM ‘000
 
Variance
%
Revenue 2,616,552 2,502,830 +4.5%
Profit before taxation 206,580 108,857 +89.8%
Profit after taxation 155,996 77,876 >100.0%

 

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