KUALA LUMPUR (Aug 24): PETRONAS Dagangan Bhd (KL:PETDAG) posted a nearly 46% rise in net profit for the second quarter ended June 30, 2026 (2QFY2026), mainly driven by higher gross profit from its commercial segment.

The increase in earnings was partially offset by lower margins for the retail segment and higher expenses.

Quarterly net profit came in at RM387.2 million, or 39 sen per share — the group’s strongest quarterly bottom line since 3QFY2017 — up from RM265.5 million, or 26.70 sen per share, a year earlier.

Revenue jumped more than 77% to a record high of RM16.1 billion from RM9.07 billion, according to a bourse filing with Bursa Malaysia.

The group declared a dividend of 25 sen per share, up from 22 sen a year earlier, payable on Sept 23.

The retail segment’s revenue rose 85%, driven by a 73% increase in average selling prices and a 7% rise in sales volume. However, profit before tax (PBT) fell 78%, due to lower gross profit arising from higher product costs, coupled with higher expenses.

Revenue from the commercial segment rose 70%, driven by higher average selling prices, partly offset by a 6% decline in sales volume. This resulted in PBT more than doubling to RM452.4 million from a year earlier, lifted by higher gross profit.

For the cumulative six-month period ended June 30, 2026, the group’s net profit rose nearly 20% to RM670.2 million from RM559 million, while revenue increased more than 50% to RM27.2 billion from RM18.2 billion.

Looking ahead, PETRONAS Dagangan said it will remain focused on executing its strategic priorities through disciplined cost management, ensuring supply reliability and delivering an integrated mobility and retail experience.

The group said it will also continue to respond proactively to changing market conditions and regulatory policies while maintaining operational excellence and business resilience.

PETRONAS Dagangan shares fell 34 sen, or 1.7%, to RM19.28 at Monday’s midday break, giving the group a market capitalisation of RM19.2 billion. Year to date, the counter has fallen more than 3%.