PetGas 4Q earnings likely to remain stable

HLIB Research said that demand for gas and utilities would remain stable going into FY24.

PETALING JAYA: Petronas Gas Bhd’s (PetGas) earnings in the fourth quarter of financial year 2023 (4Q23) is expected to remain stable, driven by continued demand for utilities and gas, while the drop in fuel gas prices will be negated by the planned higher maintenance activities.

In 3Q23, PetGas posted core profit after tax and minority interests (Patami) of RM476.8mil, down 8.6% quarter-on-quarter (q-o-q) and down 5.5% year-on-year.