Tenaga 1Q net profit jumps 48% on forex gains and lower costs
TENAGA Nasional Bhd posted a strong start to its 2025 financial year with a 48% rise in net profit to RM1.1 billion for the first quarter ended March 31, 2025 (1Q25), driven by foreign exchange gains and a 3% decline in operating expenses.
Revenue grew 17.6% to RM16 billion, boosted by higher electricity sales under the regulatory incentive-based framework.
The group recorded a foreign exchange gain of RM38.9 million compared to a RM171.3 million loss a year earlier, and benefited from an over-recovery in fuel costs of RM175.2 million versus a large under-recovery previously.
Tenaga expanded its domestic data centre operations and secured new supply contracts while progressing with renewable energy projects in the UK.
The company anticipates further financial strengthening from the upcoming regulatory period (RP4 2025-2027). — TMR
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