KUALA LUMPUR, May 25 (Bernama) — PETRONAS Gas Berhad (PGB or the Group) closes the first quarter of 2021 with Profit After Tax of RM540 million, 55% higher than the same quarter last year. The significantly stronger performance was delivered on the back of stable revenue streams and lower operating costs across all business segments.
The essential business of processing and delivering gas throughout the nation has allowed PGB to maintain its operations even during several stages of Movement Control Order announced across Malaysia. The Group’s Q1 revenue stood at RM1.34 billion, 4% lower than the same quarter last year mainly due to lower revenue from the Utilities segment following downward fuel gas pricing affecting sales prices to customers. Nevertheless, Group Gross Profit improved by 17% to RM712 million, reflecting PGB’s commitment to operating at high efficiency with optimised costs.
