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Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
YTL Corp 3Q net profit falls 15.5% on weaker power division, boosted by cement segment
YTL Corp Bhd reported a 15.5% decline in net profit to RM419.38 million for the third quarter ended March 31, 2025 (3Q25), primarily due to weaker results from its utilities segment via YTL Power International. YTL Power's net profit dropped 30% to RM489.41 million, impacted by lower power prices and a stronger ringgit. However, this was partly offset by a strong performance from its cement segment, Malayan Cement, which saw an 80.6% profit surge to RM182.84 million, driven by operational efficiencies and acquisition gains. Revenue for the quarter edged up 1.5% to RM7.32 billion. For the first nine months of FY2025, net profit fell 17.1% to RM1.33 billion while revenue rose 4% to RM23.15 billion. The group expects stable performance from its cement and utilities segments moving forward. –TMR
New Straits Times
22-05-2025
- Business
- New Straits Times
YTL Corp net profit for 3Q25 decreases to RM419.38mil
KUALA LUMPUR: YTL Corporation Bhd's net profit for the third quarter ended March 31, 2025, (3Q 2025) decreased to RM419.38 million, compared to RM496.23 million in the same quarter last year. The company's revenue for the quarter under review rose to RM7.32 billion, up from RM7.21 billion in the previous period, primarily due to the completion of the sale of an office building following the receipt of the certificate of acceptance. For the nine-month period, net profit decreased to RM1.33 billion from RM1.61 billion and revenue was enhanced to RM23.15 billion from RM22.26 billion last year. The infrastructure conglomerate said in a Bursa Malaysia filing today that it was currently developing the YTL Green Data Center Park within the Kulai Young Estate in Johor. "This will be the first data centre campus in Malaysia to be co-powered by on-site renewable solar energy. To date, the first phase of the data centre park is operational with construction of subsequent phases in progress. "The campus will incorporate innovative and sustainable solutions in design and operations to achieve high-energy efficiency. It is expected to serve a growing demand in the region for eco-friendly, cost-efficient data centre solutions from hyperscalers and co-location customers alike," it said. It said the group, in a consortium with Sea Ltd, was awarded a digital banking licence by Bank Negara Malaysia in April 2022. "This new venture, which will leverage multiple synergies between the group and Sea Ltd, will enable the group to further contribute to the growth of Malaysia's digital transformation and broaden access of its citizens to financial services, particularly the underserved and underbanked, as well as micro, small and medium enterprises," it said. YTL Corp added that it expects the performance of its business segments to remain resilient due to the essential nature of its operations, and will continue to closely monitor the related risks and impact on all business segments. -- BERNAMA
