PETRONAS Dagangan's net profit jumps to RM293.5mil in 1Q

KUALA LUMPUR: PETRONAS Dagangan Bhd says it will continue to monitor potential indirect effects, particularly inflationary pressures on its supply chain, amid the ongoing global uncertainties.

However, it remains optimistic over the resilience of the economic environment.

"This positions the group to sustain its growth, anchored by steady consumer spending and robust investment activity," it said in comments accompanying its first-quarter results filing with Bursa Malaysia.

In the opening quarter of 2025 (1QFY25), PETRONAS Dagangan recorded a net profit of RM293.5mil, up from RM226.04mil in 1QFY24.

It reported revenue of RM9.09bil, down from RM9.39bil in the previous comparative quarter. Earnings per share rose to 29.5 sen from 22.8 sen previously.

According to the group, the higher profitability was mainly driven by lower expenditure across all segments, coupled with marginal improvements on gross profit. This was further supported by favourable price trends for the commercial segment.

It said the retail segment recorded lower volume from Mogas and diesel as a result of the shift towards cautious consumer spending during the festive period in the quarter under review.

However, the commercial segment continued to capitalise on the higher demand for Jet A1, softening the overall reduction on total volume

In line with the performance, the board of directors declared an interim dividend of 20 sen per share, payable on June 21, 2025, to those registered in the records of depositors on June 11, 2025.