Gas Malaysia Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of MYR 1,556,281,000 against MYR 1,392,528,000 a year ago. Profit before zakat and taxation was MYR 54,401,000 against MYR 44,425,000 a year ago. Net profit attributable to owners of the parent was MYR 41,028,000 or 3.20 sen per share basic and diluted against MYR 33,717,000 or 2.62sen per share basic and diluted a year ago. This revenue increase was mainly due to higher volume of gas sold and higher natural gas tariff. This revenue was mainly due to higher operating expenses despite higher gross profit in line with the increase in volume of gas sold and higher natural gas tariff.

For the nine months, the company reported revenue of MYR 4,494,716,000 against MYR 3,859,869,000 a year ago. Profit before zakat and taxation was MYR 172,879,000 against MYR 133,829,000 a year ago. Net profit attributable to owners of the parent was MYR 129,314,000 or 10.07 sen per share basic and diluted against MYR 99,793,000 or 7.77 sen per share basic and diluted a year ago. This profit before zakat and taxation was mainly due to higher gross profit in line with increase in volume of gas sold and assets contributed by customers.

The profitability of the Group for the financial year ending 31 December 2018 is expected to be in tandem with the level reflecting the prevailing tariff setting mechanism framework.