KUALA LUMPUR — Petronas Gas Bhd (PetGas) has reported a 4% fall in second-quarter net profit to RM450.19 million, compared with RM468.99 million a year earlier, as lower margins and revenue offset favourable foreign exchange gains.
Revenue for the three months to June 30 slipped 3.6% to RM1.59 billion from RM1.65 billion, dragged by weaker earnings from the utilities and gas transportation segments.
The group said margins at its gas transportation unit were squeezed by lower tariffs and costs linked to supply restoration works following the April fire incident in Putra Heights.
A 4.6% drop in gross profit was partly cushioned by lower fuel gas costs in the utilities division.
The company declared a second interim dividend of 16 sen per share, amounting to RM316.6 million, payable on September 22.
For the first half of 2025, PetGas posted a net profit of RM918.98 million, down 0.7% from a year earlier, while revenue fell 2.8% to RM3.18 billion.
Weaker contributions were seen across gas processing, gas transportation, regasification, and utilities segments, reflecting lower tariffs and softer product prices.
Looking ahead, the group said performance for the year remains “healthy”, but cautioned that restructuring of electricity tariffs and the expanded scope of the Sales and Service Tax will raise operating costs.
“Despite these developments, PetGas remains focused on disciplined cost management and long-term strategic growth to safeguard business continuity and sustainability,” it said in a Bursa Malaysia filing. — August 25, 2025