Gas Malaysia posts 64% increase in 1Q earnings

During the quarter under review, Gas Malaysia’s revenue increased 54.8% to RM1.78bil from RM1.15bil in 1Q21, driven by higher average natural gas selling price in tandem with global market price, mitigated by lower volume of natural gas sold during the current quarter.

PETALING JAYA: Gas Malaysia Bhd’s net profit rose 64.2% to RM91.32mil for the first quarter ended March 31, 2022 (1Q22), from RM55.63mil in 1Q21 in tandem with higher revenue.

Its earnings per share rose to 7.11 sen from 4.33 sen previously.