Kuala Lumpur: Petronas Gas Bhd has reported a rise in net profit for the first quarter of 2025, achieving RM468.80 million compared to RM456.65 million in the same period last year. This comes even as the company experienced a decline in revenue, which fell to RM1.59 billion from RM1.62 billion previously. The decrease in revenue was primarily due to lower earnings from the gas transportation and regasification segments, following a downward tariff adjustment related to last year’s reduced internal gas consumption.
According to BERNAMA News Agency, the company filed a report with Bursa Malaysia today, indicating that it expects its overall performance for the financial year 2025 to remain stable and resilient. This is despite facing operational disruptions due to a pipeline fire incident in Putra Heights in April 2025. Petronas Gas expressed confidence that all of its core business segments would continue to be strong and contribute positively to the group’s earnings.
The company stated that the financial impact of repair and restoration work from the pipeline fire is estimated at approximately RM170 million. A significant part of this expenditure will be capitalised as part of the company’s capital expenditure, with some cost recovery anticipated from insurance claims. The revenue loss due to the temporary interruption in services is expected to be minimal, around RM20 million, thanks to swift restoration efforts involving regulatory authorities, gas shippers, and distributors.
Petronas Gas further projected that the total impact on profit from asset restoration and revenue loss would be about RM60 million for the year. In response to the incident, the company is focusing on enhancing risk management, operational resilience, and proactive mitigation strategies. It affirmed its commitment to maintaining high standards of safety and operational excellence, alongside disciplined cost management and strategic growth to ensure business continuity and sustainability.
On May 26, 2025, the company’s directors approved a first interim dividend of 16 sen per ordinary share, amounting to RM316.6 million for the financial year ending December 31, 2025. This dividend is set to be payable on June 24, 2025.