Petron earnings down on low refining margins

Higher revenue: Petron’s revenue for the first nine months of 2018 increased by 22 to RM9.15bil from RM7.53bil last year.

PETALING JAYA: Petron Malaysia Refining and Marketing Bhd’s net profit for the third quarter to Sept 30 declined 19.36% year-on-year (y-o-y) to RM85.53mil from RM106.07mil due to lower refining margins.

Thus earnings per share dropped to 31.7 sen from 39.3 sen in the same quarter of the previous year.