Gas Malaysia Q2 Profit Up

Malaysian gas retailer Gas Malaysia August 19 said its net profit for the three months to June (Q2 2019) increased 1.95% year on year to ringgit 49.01mn ($11.7mn) thanks to higher volume of gas sold and higher tariff. 

Revenue during Q2 was ringgit 1.74bn as against revenue of ringgit 1.5bn in the year ago period, it said.

For six months to June (H1 2019), Gas Malaysia’s net profit rose 2.14% year on year to ringgit 90.18mn, while revenue jumped 17.35% year on year to ringgit 3.45bn.

Gas Malaysia 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.