Petronas Chemicals Group Bhd. (5183.KU) said its third-quarter net profit fell 54% on year mainly due to lower product prices.
Net profit was 553.0 million ringgit ($133.5 million). Revenue was MYR3.67 billion, compared with MYR4.83 billion in the same period a year ago, Petronas Chemicals said Wednesday.
The company said revenue from the olefins and derivatives segment during the third quarter fell l9% on year to MYR7.38 billion as product prices were low, due to a decrease in crude oil prices.
Write to P.R. Venkat at email@example.com