KUALA LUMPUR (Jan 17): TENAGA NASIONAL BHD [] posted a net loss of RM224.70 million in the first quarter ended Nov 30, 2011 compared to net profit RM716.50 million a year earlier.
It said on Tuesday the losses were due mainly to 29.5% increase in operating expenses due to continued use of oil and distillate as alternative fuel to generate electricity.
“Oil consumption had increased by 26 times to 271,949 tonnes from 10,554 tonnes a year earlier. The total amount incurred for oil rose to RM593.3 million from RM16.4 million.
“Distillate consumption also increased by 28 times to 168.9 million litres from 6.0 million litres a year earlier. Cost for distillate consumption rose to RM413.8 million from RM17.6 million,” it said.
The quarter saw 3.9% growth in electricity demand in Peninsular Malaysia. Revenue for the quarter rose 12.4% to RM8.69 billion from RM7.73 billion a year ago.
Loss per share was 4.12 sen compared to earnings per share of 13.16 sen a year earlier.
It said on Tuesday the losses were due mainly to 29.5% increase in operating expenses due to continued use of oil and distillate as alternative fuel to generate electricity.
“Oil consumption had increased by 26 times to 271,949 tonnes from 10,554 tonnes a year earlier. The total amount incurred for oil rose to RM593.3 million from RM16.4 million.
“Distillate consumption also increased by 28 times to 168.9 million litres from 6.0 million litres a year earlier. Cost for distillate consumption rose to RM413.8 million from RM17.6 million,” it said.
The quarter saw 3.9% growth in electricity demand in Peninsular Malaysia. Revenue for the quarter rose 12.4% to RM8.69 billion from RM7.73 billion a year ago.
Loss per share was 4.12 sen compared to earnings per share of 13.16 sen a year earlier.
