Petronas Dagangan in its quarterly financial performance report indicated a surge in revenue, adding RM2.47 billion to RM7.6 billion compared to RM5.1 billion it registered in the previous quarter. However, profit slips significantly from RM285 million to RM178 million a 37% drop.
The drop was mainly due to higher operating expenditure from dealers’ commission and lower gross profit from the commercial segment mainly due to higher product costs.
Retail Segment revenue increased by RM750.9 million, mainly contributed by a higher sales volume of 18% as well as an increase in average selling prices by 6% in tandem with higher demand. PBT recorded for the period was RM211.9 million, an increase of RM29.0 million against the corresponding quarter, mainly contributed by higher gross profit across all products from higher sales volume.
Commercial Segment recorded an increase in revenue of RM1,714.3 million or 84%, contributed by higher sales volume by 23% and an increase in average selling prices by 49%. LBT of RM43.2 million was recorded as compared to PBT of RM106.4 million in the corresponding quarter last year. This was mainly due to lower gross profit from Jet A1 following higher product costs.
The convenience Segment recorded an increase in revenue of RM10.8 million or 27% contributed by higher sales from MESRA stores following higher demand from easing of restrictions. PBT of RM9.2 million was recorded as compared to LBT of RM4.2 million in the corresponding quarter last year. This was mainly contributed by higher gross profit from higher MESRA sales
