PETRONAS Gas registers net profit of RM460mil

Dateline 2017-05-16, NST:

PETRONAS Gas Bhd has registered a net profit of RM463.24 million in the first quarter ended March 31, 3.6 per cent higher from RM447.17 million in the same period a year ago on higher fuel gas price revision.

Its revenue increased 3.54 per cent to RM1.17 billion in the quarter from RM1.13 billion in the corresponding period a year ago.

The company said the higher revenue was mainly contributed by higher utilities revenue in tandem with higher offtake by customers as well as higher sales prices in line with fuel gas price revision coupled with higher regasification revenue attributed to higher storage fees.

“Profit before taxation however was slightly lower by RM1.7 million mainly due to higher operating costs attributed to one-off staff costs adjustment and depreciation expense in line with completion of major capital projects.

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