KUALA LUMPUR: Gas Malaysia Bhd’s net profit jumped 16.5% to RM53.8 million in the third quarter ended Sept 30, 2014 (3QFY14) from RM46.2 million in 3QFY13, due to higher volume of gas sold and the upward revision of natural gas tariff.

Revenue for the quarter also grew 25.8% to RM734.4 million from RM583.7 million a year ago.

For the nine-month period (9MFY14), the natural gas distributor’s net profit rose 9.9% to RM144.3 million from RM131.3 million a year ago, while revenue climbed 16.3% to RM1.99 billion from RM1.71 billion in the same period, due also to higher volume of gas sold and the higher tariff.

On current prospects, Gas Malaysia anticipates the increase in gas volume and number of customers to be sustained in the remaining quarter of FY14.

Gas Malaysia shares ended the day one sen or 0.3% higher at RM3.50, giving it a market capitalisation of RM4.49 billion.

This article first appeared in The Edge Financial Daily, on November 13, 2014.