Petronas Gas Bhd ( (PNAGF) ) has released its Q3 earnings. Here is a breakdown of the information Petronas Gas Bhd presented to its investors.
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Petronas Gas Berhad is a leading Malaysian company involved in the processing, transportation, and regasification of natural gas as well as the provision of utilities, operating within the energy sector and known for its significant contribution to the gas infrastructure in Malaysia. In its latest earnings report for the third quarter ending September 2024, Petronas Gas Berhad recorded a slight increase in revenue by 1.2% to RM4.92 billion, mainly driven by higher charges in the Gas Processing segment, despite reduced revenue from the Utilities segment due to lower product prices. The company reported a 6.1% rise in profit before taxation to RM1.89 billion, attributed to lower financing costs and favorable foreign exchange movements. Furthermore, earnings per share saw a 3.0% increase, reflecting higher profits attributable to shareholders. The company maintained its dividend payout, declaring 18 sen per share for the third interim of the financial year. Looking forward, Petronas Gas Berhad aims to sustain its strong operational performance and prioritize cost efficiency amid inflationary pressures, while continuing to focus on sustainable growth and maximizing shareholder returns.