PetGas posts net profit of RM503.35mil

Moving forward, the Covid-19 pandemic is not expected to significantly impact the group’s overall earnings as its business model and long-term contracts ensure steady revenue streams, particularly for the gas processing, gas transport and regasification business segments.

KUALA LUMPUR: Petronas Gas Bhd posted an improved net profit of RM503.35mil in the fourth quarter ended Dec 31,2020,3.7% higher than RM485.27mil in the previous corresponding quarter.

Revenue for the quarter was up 1.2% year-on-year to RM1.39bil from RM1.37bil on higher contribution from the regasification and gas transport segments in line with new tariffs for Regulatory Period 1 effective Jan 1,2020.