Petronas Gas Bhd announced on February 21 that its net profit fell in the fourth quarter of 2024 as expenses increased due to pipeline management, regasification terminals and higher gas costs.
According to Petronas Gas’s exchange filing, the profit was RM417.03 million, down 5.6% from RM441.59 million a year earlier.
However, revenue for the quarter increased 3% year-on-year to RM1.62 billion due to higher tariffs.
The company expects a healthy performance in 2025, with all segments expected to remain competitive supported by stable revenue contracts and ongoing operations.
While operating costs are projected to increase due to the recent asset management, it remains committed to optimizing costs and operational efficiency.
A fourth interim dividend of 22 sen per share was declared, involving a payment of RM435.3 million and bringing the total distribution for the year to 72 sen per share.
