KUALA LUMPUR: Gas Malaysia Bhd
’s net profit declined to RM92.83 million in the first quarter ended March 31, 2026 (1Q 2026), from RM100.13 million in 1Q 2025.
In a filing with Bursa Malaysia, the natural gas distributor attributed the weaker net profit to lower average natural gas contribution margin in line with lower average natural gas selling price, lower finance income, lower share of results from joint venture companies, higher administrative expenses and higher finance costs.
However, this was mitigated by the higher volume of natural gas sold.
Revenue for 1Q 2026 also fell to RM1.59 billion from RM1.84 billion previously, in line with the lower average natural gas selling price.
Earnings per share for the quarter eased to 7.23 sen from 7.80 sen a year earlier.
Moving forward, Gas Malaysia expects the group to deliver satisfactory performance for the financial year ending Dec 31, 2026, while remaining mindful of prevailing uncertainties.
In navigating the current operating environment, the group said it would prioritise operational efficiency and strengthen its competitive positioning by evaluating and selectively pursuing opportunities in new business segments to support sustainable growth over the medium to long term.
"While these initiatives may entail additional near -term cost commitments, the group remains focused on cost discipline and operational resilience,” it added. - Bernama
