Petronas Chemicals Q3 profit jumps 38%

A Petronas Chemicals plant

KUALA LUMPUR: Petronas Chemicals Group Bhd’s (PetChem) net profit increased by 37.6% to RM1.257bil in the third quarter ended Sept 30 from RM913mil a year ago, underpinned by higher revenue, supported by lower tax expenses and higher interest income.

In an announcement to Bursa Malaysia, the company said its revenue rose 20.3% to RM4.83bil from RM4.01bil due to higher product prices, partially offset by lower sales volumes and the strengthening of the ringgit against the US dollar.