KUALA LUMPUR (Nov 20): Gas Malaysia Bhd (KL:GASMSIA) posted an 18.03% year-on-year (y-o-y) drop in net profit for the third quarter, due to lower volume of natural gas sold and average natural gas profit margin.

Higher administrative expenses, finance costs and lower share of profits from joint ventures companies also dragged profits, its bourse filing showed on Thursday (Nov 20).

Net profit fell to RM95.08 million in the third quarter ended Sept 30, 2025 (3QFY2025) from RM115.99 million a year before. Earnings per share stood at 7.41 sen in 3QFY2025 from 9.03 sen in 3QFY2024.

This is the group's second straight quarter of earnings falling below the RM100 million mark and also its lowest quarterly net profit since 3QFY2023, when it posted a net profit of RM86.16 million.

Revenue for the quarter declined by 12.05% y-o-y to RM1.87 billion, from RM2.13 billion, dragged by lower average natural gas selling price and lower volume of natural gas sold.  

The group did not recommend any dividend for the quarter under review.

Its administrative expenses increased by 26.6% y-o-y to RM37.52 million in 3QFY2025 from RM29.64 million while finance costs spiked up to 45.13% to RM4.88 million from RM3.63 million.

For 9MFY2025, Gas Malaysia’s net profit dropped 10.45% y-o-y to RM294.34 million from RM328.68 million in 9MFY2024. Revenue for 9MFY2025 fell 7.8% to RM5.52 billion from RM5.99 billion previously.

Looking ahead, Gas Malaysia said the group continues to pursue strategic growth opportunities, including expanding into new business segments and enhancing capabilities that support sustainable growth.

“These initiatives require investments in various preparatory studies and works for future growth. This results in higher operating expenses in the near term,” it added.

Nevertheless, the group said it remains committed to prudent cost management and operational excellence.

Gas Malaysia’s share price closed up five sen or 1.14% at RM4.44, valuing it at RM5.7 billion.