Gas Malaysia’s revenue for the fourth quarter ended 31 December 2023 was RM1.801 billion compared to RM2.22 billion in the corresponding quarter in 2022, representing a decrease of 19.0%.The group saw this was in line with lower average natural gas selling price, mitigated by higher volume of natural gas sold during the current quarter.
The profit after tax was higher at RM105 million compared to RM96 million in the previous year’s quarter, however profit after zakat and taxation was RM142.7 million, a decrease of 0.6% as compared to the profit before zakat and taxation of RM143.6 million in the corresponding quarter in 2022. This was in line with lower average natural gas selling price, offset by higher volume of natural gas sold and higher contributions from the Group’s joint venture companies in the current quarter.
As for the full year, the group’s revenue was RM8.07 billion compared to RM7.64 billion in the corresponding period in 2022, representing an increase of 5.6%.
PAT was at RM383 million slightly lower compared to RM389 million in 2022. The profit before zakat and taxation for the financial year ended 31 December 2023 was RM513.7 million, a decrease of 6.0% as compared to the profit before zakat and taxation of RM546.8 million in the corresponding period in 2022.
With the measures in place, the Board said it expects that the Group will deliver a satisfactory performance for the financial year 2024 in tandem with the expected domestic economic growth.
