KUALA LUMPUR: YTL Corp Bhd posted its best quarterly net profit since 2006 at RM521.7 million in the first quarter (Q1) ended Sept 30 from RM36.62 million in the same quarter last year.
The company's revenue also rose 16 per cent to RM7.52 billion in Q1 2023 from RM6.49 billion a year ago, driven by improved performance across almost all business segments.
In its latest quarter under review, the conglomerate's two biggest contributors were utilities through YTL Power International Bhd, in which it has a 49.08 per cent direct and a 6.49 per cent indirect stake, and cement and building materials, through 78.58 per cent indirect-owned Malayan Cement Bhd.
On its biggest contributor YTL Power, net profit rose to RM847.91 million in Q1 2023 from RM173.28 million mainly from its Singapore electricity generation and retail operations.
Meanwhile, Malayan Cement posted a strong net profit of RM96.1 million in Q1 2023 from RM953,000 a year ago, on revenue increase of 33.67 per cent to RM1.15 billion, from RM858.85 million previously.
On its prospects, the group expects the performance of its business segments to remain resilient due to the essential nature of its operations.
"The company will continue to closely monitor the related risks and impact on all business segments," it said.