Gas Malaysia shares remain flat despite higher Q2 profit

PETALING JAYA: Gas Malaysia Bhd’s share price was flat this morning at RM2.99 despite reporting a higher net profit in its second quarter ended June 30, 2017.

At 11.14am, its share price remained unchanged at RM2.99 with only 2,500 shares traded.

Yesterday, Gas Malaysia reported a 1.2% increase in its net profit to RM39.46 million during the second quarter from RM38.97 million a year ago due to higher gross profit, in line with the increase in volume of gas sold.

Its revenue jumped 32.2% to RM1.29 billion from RM973.79 billion a year ago due to higher volume of gas sold, upward revision of natural gas tariff and higher tolling fees.