Ranhill posts RM18.19mil profit in Q1

TheStar Thu, May 21, 2020 08:10am - 3 years View Original


Group president and chief executive officer Tan Sri Hamdan Mohamad (pic) said it was encouraging to note that the group was able to turn in sustained earnings despite the challenging environment brought about by the coronavirus (Covid-19) pandemic.

PETALING JAYA: Ranhill Utilities Bhd’s net profit for the first quarter ended March 2020 came in 14.87% lower year-on-year (y-o-y) at RM18.19mil.

This was on the back of a quarterly revenue of RM368.28mil, which was 9.08% lower y-o-y.

The reduction in both net profit and revenue was due to reduced water consumption volume and lesser contribution from developers amounting to RM10mil in Ranhill SAJ Sdn Bhd, lower engineering, procurement and construction revenue from Ranhill Water Technology of RM11mil and a reduction in power tariff of RM16mil.

Ranhill water treatment plant. - FilepicRanhill water treatment plant. - Filepic

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