KUALA LUMPUR, Aug. 26 (Xinhua) -- Petronas Gas, the gas unit of Malaysia's state-owned oil and gas firm Petroliam Nasional Berhad (Petronas), has reported lower earnings in the second quarter of 2025.
The firm said in a bourse filing on Monday that its net profit for the second quarter dipped 4.01 percent year-on-year to 450.19 million ringgit (107.19 million U.S. dollars).
The drop was due to tighter margins recorded at the gas transportation segment in line with lower revenue, coupled with costs incurred for the gas supply restoration works following the Putra Heights fire incident in April 2025.
The firm's revenue for the quarter also declined by 3.5 percent year-on-year to 1.59 billion ringgit.
The fall was due to lower revenue of its utilities segment in line with lower product prices and the gas transportation segment following downward tariff adjustment arising from the sharing factor for the prior year's lower internal gas consumption.
As for the first half, the firm's net profit slipped 0.72 percent year-on-year to 918.98 million ringgit. Its revenue for the period also decreased by 2.51 percent year-on-year to 3.18 billion ringgit.
"Petronas Gas's performance outlook for 2025 is expected to remain healthy, reflecting continued resilience and operational strength," said the firm.
Nonetheless, it noted that the recent restructuring of electricity tariffs, along with the expanded scope of the sales and service tax, is expected to exert upward pressure on operating costs and hence impact profitability.
"Despite these developments, we remain focused on disciplined cost management and long-term strategic growth to safeguard business continuity and sustainability. We continue to strive for operational excellence to ensure safe and uninterrupted gas supply nationwide," it added. (1 ringgit equals 0.24 U.S. dollars) ■
