Higher deferred tax expense drag TNB 3Q net profit down 15%
KUALA LUMPUR (July 27): Tenaga Nasional Bhd’s (TNB’s) net profit for its third quarter ended May 31, 2017 (3QFY17) shrank 15% to RM1.96 billion or 34.68 sen per share, from RM2.31 billion or 40.91 per share a year ago, mainly due to higher deferred tax expense.
Deferred taxation expense jumped to RM400 million, from RM22.1 million last year, as a result of higher asset capitalisation over its 2016 and 2017 financial years (FY16 and FY17) that was recognized in the quarter.
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