Petronas Gas Bhd reported better-than-expected latest quarterly earnings, with net profit growing 15% year-on-year to RM550 million. This increase was primarily driven by rising demand for natural gas and utility services from the industrial sector. The company's shares rose 0.8% on Friday, reflecting investor confidence in its stable earnings capability.
Petronas Gas Bhd, a subsidiary of Malaysia's national oil company, reported encouraging latest quarterly results, with net profit growing 15% year-on-year to RM550 million, surpassing market expectations. This strong performance was primarily attributed to the sustained increase in demand for natural gas and utility services from Malaysia's industrial sector, along with stable contributions from its gas processing and transmission segments. Company management stated that they would continue to focus on optimizing operational efficiency and expanding their service offerings to meet growing market demand. Petronas Gas shares rose 0.8% to RM17.80 in Friday's trading, reflecting investor optimism about its stability and earnings prospects as a key infrastructure provider.
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