For the quarter ended 30 September 2024, Malakoff recorded RM2,219.2 million in revenue, a slight increase of RM64.7 million or 3.0% from RM2,154.5 million reported in the corresponding quarter ended 30 September 2023, which primarily was due to higher energy payment recorded from Segari Energy Ventures Sdn. Bhd. given the increase in despatch factor, however, partially offset by lower energy payment recorded from Tanjung Bin Power Sdn. Bhd.("TBP") following a major plant outage from 28 June 2024 to 1 September 2024.
Remarkably, the group recorded profit after taxation of RM58 million in the current quarter, a significant increase from loss before taxation of RM107 million reported in the corresponding quarter ended 30 September 2023,which was attributed to improved contributions from TBP and Tanjung Bin Energy Sdn. Bhd. plants given the lower weighted average coal costs following stabilisation of global coal prices together with the settlement of TBE's final insurance claims on Low-Pressure Turbine blade failure.
Based on its ongoing strategy, the Group expects overall performance to remain satisfactory for the financial year ending 31 December 2024
