Tenaga Nasional 4Q Net Profit Falls 2.4%

By Yantoultra NguiFeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--Electricity utility Tenaga Nasional Bhd. (5347.KU) said Thursday that net profit for its fiscal fourth quarter declined 2.4% from a year earlier, mainly due to an increase in operating expenses.

Net profit for the three months ended August dropped to 1.72 billion ringgit ($406.14 million) from MYR1.76 billion a year earlier, according to a stock-exchange filing. Revenue for the period climbed 10.9% to MYR12.46 billion.

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Tenaga said unit electricity demand growth will be stable and in line with the expected growth of the national economy.

Tenaga shares ended unchanged at MYR14.34 on Thursday ahead of the earnings release. The local benchmark stock index closed 0.13% lower.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

October 26, 2017 05:55 ET (09:55 GMT)