Petronas Gas shares fall further despite higher Q2 earnings

PETALING JAYA: Petronas Gas Bhd's share price continued to fall by 14 sen or 0.75% this morning despite reporting a 19.7% jump in its net profit to RM509.3 million in the second quarter (Q2) ended June 30 from RM425.3 million previously.
At 11.08 am, the stock stood at RM18.52 with 62,900 shares changing hands.
The group told the stock exchange yesterday that the higher profit was in tandem with improved in revenue during the quarter.
Revenue for the quarter grew 15.7% to RM1.36 billion, compared with RM1.17 billion in the same period last year, mainly contributed by the group's new LNG regasification terminal in Pengerang, Johor which commenced commercial operations in November 2017.
"This was further supported by higher revenue from all segments," it added.