Kuala Lumpur: YTL Corporation Bhd’s (YTL Corp) net profit declined slightly to RM580 million in the second quarter (2Q) ended Dec 31, 2024, from RM589.22 million a year earlier due to a weaker performance by the utilities segment.

According to BERNAMA News Agency, the diversified group stated that the utilities segment, which remained its largest operating segment, recorded an 18.7 per cent fall in profit before tax year-on-year to RM731.42 million. In contrast, all the other segments saw an improvement in bottom line. Group revenue, meanwhile, rose to RM8.06 billion from RM7.53 billion previously, YTL Corp said in a filing with Bursa Malaysia today.

For the cumulative six-month performance, YTL Corp’s net profit fell to RM913.72 million from RM1.11 billion, although revenue grew to RM15.83 billion from RM15.05 billion. Meanwhile, multi-utility owner and operator YTL Power International Bhd announced that its net profit fell to RM767.69 million for 2Q ended Dec 31, 2024, from the RM845.12 million posted a year earlier. However, YTL Power’s revenue improved to RM5.68 billion from RM5.37 billion a year earlier, as noted in a filing with the stock exchange.

For the cumulative six-month performance, YTL Power’s net profit dropped to RM1.24 billion from RM1.69 billion, while revenue increased to RM11.36 billion from RM10.82 billion previously. Both YTL Corp and YTL Power expressed optimism for continued resilience across their business segments due to the essential nature of their operations and committed to closely monitor the related risks and potential impact.