YTL Power profit after tax for the current financial year increased to RM3.5 billion representing an increase of 75% or RM1.5 billion as compared to RM2.0 billion recorded in the preceding year.
The group said the higher profit was principally attributable to better performance in the Power Generation segment. YTL recorded higher revenue of RM22,320.5 million for the current financial year ended 30 June 2024, representing an increase of RM430.0 million or 2.0% as compared to RM21,890.5 million recorded in the preceding financial year ended 30 June 2023.
The power generation unit saw an increase in profit before taxation due to better margins, lower interest expenses following loan repayments and strengthening of Singapore Dollar against Ringgit Malaysia. The decrease in revenue however was mainly due to the lower pool price and partially offset by strengthening of Singapore Dollar against Ringgit Malaysia.
As for Q4, the profit after taxation of RM1.1 billion was flat, however revenue of RM6.3 billion for the current financial quarter represented a decrease of RM744.4 million or 10.5% as compared to RM7.0 billion recorded in the preceding year corresponding quarter.