KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), the national oil company. said higher product prices boosted its revenue and profits in the the third quarter, despite lower sales volume.
Revenue rose 50% to RM61.8bil, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) soared 88% to RM26.3bil.
The Group recorded a profit after tax of RM35.2bil from the loss of RM19.9bil the corresponding period last year, in tandem with higher Ebitda coupled with lower net impairment losses on assets.
