PETRONAS Dagangan Berhad (PETRONAS Dagangan) announced its financial results for the third quarter of 2024 (Q3 FY2024), achieving a significant increase in pre-tax profit compared to the same quarter last year.

For the quarter ended 30 September 2024, PETRONAS Dagangan recorded a total sales volume of 4.3 billion litres, a two per cent increase compared to the corresponding period in 2023 (Q3 FY2023). This growth was largely attributed to higher demand in Retail Mogas and the aviation sector, boosted by an uptick in passenger movements domestically and internationally. 
 
Pre-tax profit surged to RM445.9 million, reflecting a significant 70 per cent increase from the same period last year. This robust performance was fuelled by strong margins on the back of favourable price trends and lower product costs across both Retail and Commercial segments.
 
For the nine months ended 30 September 2024, PETRONAS Dagangan’s year-on-year revenue reached RM29.0 billion, a five per cent increase compared to the same period in 2023, bolstered by a four per cent increase in sales volume and higher average selling prices. Cumulatively, the Company’s pre-tax profit climbed by 12 per cent to RM1.2 billion, supported by higher gross profit from all segments.
 
PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani said, “This quarter’s performance reflects our strategic focus on operational efficiency and targeted growth across our business segments. The strong profitability underscores the trust our customers place in us, the strength of our operations and our commitment to excellence across all touchpoints. As we approach the year-end, these efforts enhance our resilience and the value we provide to customers.”
 
Supported by strong domestic consumption and recovery in trade activities, Malaysia’s economy is expected to remain resilient with the Gross Domestic Product (GDP) projected to grow between 4.8 and 5.3 per cent in 2024. This favourable economic backdrop supports PETRONAS Dagangan’s outlook for steady performance across all business segments through year-end. As the Company continues to strengthen its core business and expand non-fuel offerings, it is also leveraging Setel to enhance customer experience, while also focusing on expanding Mesra’s product offerings, to cater to evolving customer needs.
 
“While we focus on closing the year strongly, our commitment remains on achieving continuous growth and creating value for our stakeholders as well as ensuring our commitment to making life simpler and better for our customers,” added Azrul.
 
PETRONAS Dagangan has declared an interim dividend of 24 sen per ordinary share for the quarter ended 30 September 2024.

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