By Chester Tay

Petronas Dagangan Bhd.'s third-quarter net profit slid 11% from a year earlier as jet fuel sales declined amid weak air travel demand.

Net profit for the July-to-September period fell to 212.7 million ringgit ($51.7 million), while revenue slumped 38% to MYR4.83 billion, the downstream oil-and-gas company said Tuesday.

For the first nine months of the year, the group's net profit plunged 73% to MYR186.8 million, while revenue fell 36% to MYR14.32 billion.

Petronas Dagangan said overall demand for its products have increased following the lifting of restrictions on domestic travel within Malaysia, though international demand for aviation fuel remains low due to global travel restrictions.

The company said its performance for the remainder of 2020 is expected to be affected by a resurgence of Covid-19 cases.

Write to Chester Tay at chester.tay@wsj.com

(END) Dow Jones Newswires

11-17-20 0459ET