Petronas Dagangan sees rising investor interest
PETALING JAYA: Petronas Dagangan Bhd
(PetDag) saw its net profit increasing 15.4% to RM253.2mil for its first quarter ended March 31 from RM219.4mil in the previous corresponding quarter on improved margins.
In its filing with Bursa Malaysia, the oil and gas product retailer and marketer said its retail segment reported a higher operating profit, thanks to improved margins from liquefied petroleum gas as a result of competitive product cost and improved Mogas – the natural gas used by vehicles – margins as a result of higher prices. The group’s commercial segment, on the other hand, reported a marginal decline in operating profit due to higher operating expenditure (opex) and lower other income.
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