By Chester Tay

Petronas Gas Bhd.'s net profit for the third quarter rose 37%, as the group incurred lower depreciation expenses, foreign-exchange gains and enjoyed higher gas sales volume and tariffs.

Net profit was 591.0 million ringgit ($144.6 million), while revenue rose 5.2% from a year earlier to MYR1.41 billion, the company said Thursday.

For the first nine months of the year, net profit increased to MYR1.51 billion from MYR1.45 billion, while revenue rose to MYR4.20 billion from MYR4.09 billion.

Petronas Gas said the Covid-19 pandemic isn't expected to significantly impact its overall earnings, as the group's business model and long-term contracts ensure steady revenue streams, particularly for the gas-processing, gas-transportation and regasification business segments.

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

(END) Dow Jones Newswires

11-19-20 0036ET