KUALA LUMPUR (Aug 9): Gas Malaysia Bhd rose 2.73% in early trade this morning after it reported a 42% jump in its net profit for the second quarter ended June 30, 2018 (2QFY18) to RM48.07 million from RM33.76 million in the year-ago quarter, thanks to a higher volume of natural gas sold and higher natural gas tariff.
At 9.05am, Gas Malaysia added 8 sen to RM3.01 with 85,900 shares done.
Quarterly revenue was up 17% to RM1.5 billion from RM1.28 billion previously.
For the cumulative first half ended June 30 (1HFY18), Gas Malaysia reported a 33% rise in net profit to RM88.29 million from RM66.19 million a year ago, mainly due to an increase in volume of natural gas sold. Revenue was up 19% to RM2.94 billion from RM2.47 billion, on higher volume as well as higher natural gas tariff.