KUALA LUMPUR, November 22 – PETRONAS Gas Berhad has announced robust financial performance for the first nine months of 2023, closing with a Profit After Tax (PAT) of RM1.4 billion, a 10.7% increase from the same period in 2022. The positive results were driven by higher Profit Before Tax (PBT) and the absence of Prosperity Tax incurred in the previous financial year. PETRONAS Gas has showcased resilience amid challenging market conditions, attributed to long-term contracts in the Gas Processing, Gas Transportation, and Regasification segments, supported by consistent operational excellence.
In Q3 FY2023, PETRONAS Gas recorded a 7.4% increase in revenue, reaching RM4.8 billion compared to RM4.5 billion in the same quarter last year. This growth was primarily contributed by segmental revenue from the Utilities segment, aligning with higher product prices. Despite a 5.3% decline in gross profit, the Group’s PBT improved by 2.0%, amounting to RM35.6 million. The improvement was attributed to lower expenses, reduced exposure from foreign exchange movements, lower financing costs from early lease settlements, and increased profit share from joint venture companies.
PETRONAS Gas Managing Director and CEO Abdul Aziz Othman emphasized the focus on operational efficiency, cost optimization, and commitment to transitioning towards a greener portfolio in line with the National Energy Transition Roadmap. The Group has declared an interim dividend of 18 sen per share, amounting to RM356.2 million, reflecting its commitment to shareholder value and consistent financial performance.
