YTL Corp net profit rises 9% in 3QFY21

YTL Corp Bhd recorded a nine per cent increase in its net profit to MYR93.5m (US$22.6m) for the third financial quarter ended 31 March 2021 (3QFY21), up from MYR85.4m in the preceding quarter.

Revenue fell eight per cent QoQ to MYR4.22bn, from MYR4.59bn in 2QFY21.

"We have continued to see good recovery, particularly in our key utilities division which has registered a marked turnaround in the merchant multi-utilities subsegment in Singapore, as well as our cement and construction businesses," said YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh Sock Ping.

The group's cement subsidiary Malayan Cement Bhd posted a seven per cent increase in revenue to MYR374.8m for the quarter from MYR350.5m in 2QFY21, while pretax profit stood at MYR4m versus a pretax loss of MYR6.4m.