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KUALA LUMPUR: Tenaga Nasional Bhd 
(TNB) is struggling to cope with rising operating expenses related to electricity generation.
Net profit for the quarter ended September 30 fell 60% to 501 million RMB, compared with 1.24 billion RMB in the previous quarter.
In a statement released today, the company attributed this sharp drop to higher operating expenses and lower shareholder loss in the current quarter.
After nine months, after-tax profit was RMB 3.9 billion, compared with RMB 5.18 previously. The group posted a stable turnover of 37.85 billion RMB, while operating expenses (opex) amounted to 32.24 billion RMB.
Consensus estimates, queried prior to the release of the latest quarterly results, place TNB earnings at one year for a total of RMB 7.1, or RMB 1.27 per share.
TNB shares fell by 14 sen to close at 14.72 RMB on Tuesday.
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