Petronas Gas shares fall further despite higher Q2 earnings
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Petronas Gas Bhd’s share price continued to fall by 14 sen or 0.75% this morning despite reporting a 19.7% jump in its net profit to RM509.3 million in the second quarter (Q2) ended June 30 from RM425.3 million previously.
At 11.08 am, the stock stood at RM18.52 with 62,900 shares changing hands.
The group told the stock exchange that the higher profit was in tandem with improved in revenue during the quarter.
Revenue for the quarter grew 15.7% to RM1.36 billion, compared with RM1.17 billion in the same period last year, mainly contributed by the group’s new LNG regasification terminal in Pengerang, Johor which commenced commercial operations in November 2017.
“This was further supported by higher revenue from all segments,” it added.
Questions & Answers
Q.What was Petronas Gas Bhd's net profit for the second quarter?
What was Petronas Gas Bhd's net profit for the second quarter?
Petronas Gas Bhd reported a net profit of RM509.3 million for the second quarter ended June 30. This figure marks a significant increase from RM425.3 million in the previous period.
Q.What contributed to the increase in Petronas Gas Bhd's revenue this quarter?
What contributed to the increase in Petronas Gas Bhd's revenue this quarter?
The main contributor to the higher revenue was the new LNG regasification terminal in Pengerang, Johor, which began commercial operations in November 2017. Improved revenue from all other segments also supported this growth.
Q.How did Petronas Gas Bhd's revenue compare to the same period last year?
How did Petronas Gas Bhd's revenue compare to the same period last year?
The company's revenue for the quarter grew by 15.7% to RM1.36 billion. This is an increase from the RM1.17 billion reported in the same period last year, indicating healthy financial progress.