KUALA LUMPUR (Aug 29): YTL Power International Bhd’s net profit dropped 49.6% to RM199.48 million in the fourth quarter ended June 30, 2017 (4QFY17) from RM395.92 million a year ago, mainly due to a RM260.1 million one-off deferred tax credit at its associate in Indonesia in 4QFY16.

Its earnings per share fell to 2.57 sen from 5.13 sen.

But stripping off the one-off deferred tax credit, YTL Power said its pre-tax profit would have been RM182.7 million.

Quarterly revenue rose 19.4% to RM2.59 billion in 4QFY17 from RM2.17 billion in 4QFY16.

YTL Power also declared an interim dividend of 5 sen per share for the financial year ended June 30, 2017 (FY17), payable on Nov 10.

For FY17, the group's net profit fell 36.6% to RM673.41 million from RM1.06 billion the previous year, while revenue slipped 4.6% to RM9.78 billion from RM10.25 billion in FY16.

On prospects, YTL Power said it has an 80% stake in Indonesian unit PT Tanjung Jati Power Co which is currently developing a 2 x 660-megawatt power plant in Java.

It has also upped its stake in Attarat Power Co to 45%, which is developing a 554MW oil shale price power generation project in Jordan.

Additionally, it has inked a share sale agreement and land lease agreement with Tenaga Nasional Bhd relating to YTL Power’s bid for a supply of 585 megawatt capacity from an existing facility in Paka, which is expected to be finalised by Sept 1.

Meanwhile, YTL Power said its mobile broadband segment had launched the 4G LTE services for mobile  devices, and has emerged as Malaysia’s first voice-over-LTE service provider. “This business segment will continuously be coming up with more competitive products to increase subscriber base,” it added.

YTL Power shares closed unchanged at RM1.43 today, with 985,200 shares traded, giving it a market capitalisation of RM11.08 billion.