GAS Malaysia Bhd reported a 1.5% year-on-year decline in net profit to RM100.14 million for the first quarter ended March 31, 2025 (1Q25), down from RM102.63 million previously.
Revenue also eased to RM1.84 billion from RM1.87 billion, primarily due to a lower average natural gas selling price.
The decline was partially offset by increased gas sales volume and higher tolling fees.
Despite the softer earnings, the company remains optimistic, citing ongoing efforts to boost operational efficiency and explore strategic growth opportunities.
The board expressed confidence in delivering a satisfactory performance for FY2025, while maintaining a cautious stance amid persistent market uncertainties. –TMR
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