TNB profit down by 8% YoY to $793.4m in 2022

This is due to the higher taxes paid during the period.

Malaysia’s Tenaga Nasional Berhad (TNB) Group’s profit after tax declined by 8% year-on-year (YoY) in 2022 to around $793.4m (RM3.56b) due to higher taxes.

In a statement Dato’ Indera Ir. Baharin Din said attributed the higher taxes to the deferred tax movement of $116m (RM520.7m), and the imposition of the prosperity tax of around $76m (RM340.8m).

The profit declined despite the 5.7% YoY revenue growth to $11.3b (RM50.87b).

“This was propelled by a 5.2% year-on-year (YoY) improvement in electricity demand, mainly in the industrial and commercial sector. Electricity demand in Peninsular Malaysia alone, grew by 6.0% YoY,” the CEO said.

Meanwhile, TNB’s earnings before interest, taxes, depreciation and amortisation rose 10.9% YoY to $4.6b (RM20.81b) due to higher electricity revenue and lower allowance for doubtful debts on the back of collections improvement.

$1 = RM4.49

Follow the link for more news on

Tenaga Nasional Berhad

Also Read

Vena Energy’s 53 MW Kasama Solar Project starts operation

Adani Green’s operational capacity up 34% in H1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit