KUALA LUMPUR: Petronas Dagangan, a Malaysia-based retailer and marketer of oil and gas products, said Friday its net profit more than tripled on year in the third quarter, aided by contributions from retail and commercial segments.
Net profit for the period ended Sep. 30 stood at 761.73 million ringgit ($181.70 million) versus 248.76 million ringgit a year earlier, the company said in an exchange filing. Quarterly revenue rose by 22.2% on year at 6.69 billion ringgit.
“The Directors are of the opinion that the business environment outlook for the upcoming months of FY2017 remains challenging,” Petronas Dagangan said. “The Group will continue to focus on inventory management, supply and distribution efficiency as well as operating expenditure optimisation to ensure the Company remains resilient.”
