KUALA LUMPUR: Petronas Gas Bhd
has issued a positive outlook for 2025 with its performance expected to "remain healthy, reflecting continued resilience and operational strength".
However, the group said the recent restructuring of electricity tariffs under Regulatory Period 4 (RP4), along with the expanded scope of the Sales and Service Tax (SST) effective July 1, 2025, are expected to exert upward pressure on operating
costs and hence impact profitability.
"Despite these developments, PGB remains focused on disciplined cost management and long-term strategic growth to safeguard business continuity and sustainability," it said in its commentary accompanying its latest results filing.
In the second quarter ended June 30, 2025, PETRONAS Gas recorded a net profit of RM450.19mil, down from RM468.99mil in the year-ago quarter.
Quarterly earnings per share came in at 22.75 sen, as compared to 23.7 sen in the comparative quarter.
The group said revenue fell to RM1.59bil in 2QFY25 from RM1.65bil in 2QFY24. This was mainly attributable to lower revenue from the utilities segment in line with lower product prices and gas transport segment following a downward tariff adjustment arising from the sharing factor for the prior year’s lower internal gas consumption.
Over the six-month period, the group's net profit was RM918.98mil against net profit of RM925.64mil in 1HFY24, while revenue was down to RM3.18bil from RM3.27bil in the year-ago period.
The board of directors declared a second interim dividend of 16 sen per share, with ex-date on Sept 11, 2025, and payment on Sept 22, 2025.
