KUALA LUMPUR: YTL Power International Bhd’s net profit for the third quarter ended March 31, 2018, fell to RM165.62 million from RM190.31 million in the same quarter recorded a year ago.
Revenue, however, rose to RM2.59 billion from RM2.39 billion previously, mainly driven by the better performance in the water and sewerage segment and investment holding activities.
“The higher (water and sewerage) revenue was mainly due to the opening of the retail market for non-household customers, increase in price as allowed by the regulator and lower operating costs while the rise in (investment holding) revenue was contributed by higher interest income,” it said in a filing with Bursa Malaysia today.
Moving forward, YTL Power said 45 per cent-owned Attarat Power Company was scheduled to begin operations of its power station in Jordan in mid-2020.
On 80 per cent-owned PT Tanjung Jati Power Company in Java, Indonesia, the group said the subsidiary's 660MW power project was currently in the development stage and progress was underway towards achieving financial close.