Gas Malaysia Q3 Profit Up

Malaysian gas retailer Gas Malaysia November 14 said it net profit for the three months to September 30 (Q3 2019) increased 12.23% year on year thanks to the higher volume of gas sold and higher tariff.

Company’s net profit in Q3 was ringgit 46.48mn ($11.2mn) as against ringgit 41.42mn in the same quarter last year. Revenue during Q3 was ringgit 1.76bn as against revenue of ringgit 1.55bn in the year-ago period, the company said.

Gas Malaysia said it anticipates that the yearly increase in natural gas sale volume and number of customers will sustain for the financial year 2019. The company supplies natural gas and LPG to homes, commercial businesses and industries in Malaysia. Apart from the general public, its shareholders include MMC Corporation, Tokyo Gas, and Petronas Gas.