KUALA LUMPUR: Petron Malaysia Refining and Marketing Bhd posted a higher net profit of RM81.03 million in the first quarter (1Q) ended March 31, 2025, compared to RM69.71 million in the same period last year.

The company said its higher net profit was driven by better production and efficiency at the Port Dickson refinery, cost-effective sourcing from Petron Singapore Trading Pte Ltd, and strong hedging strategies.

However, revenue dropped to RM3.67 billion in 1Q 2025, compared to RM4.65 billion in the same period last year, driven by lower sales volume and prices.

"Despite the drop in revenue, gross profit rate improved to 4.5 per cent from 3.9 per cent last year, as the impact of weaker refining cracks were mitigated by the various process efficiencies implemented across the company, closing the period with an operating income of RM115.34 million," it said in a stock exchange filing.

On its prospects, Petron Malaysia said the company remains committed to pursuing sustainable growth through its continued retail network expansion, as well as plant and terminal facilities, and process improvement programmes.

The group now has 810 service stations operating across Malaysia, including the recently opened stations such as the northbound Petron Mambau in Negeri Sembilan, which is the first station certified by GreenRE in the silver category.

"This station will serve as Petron's model for building more environment-friendly service stations in the future. It would underscore the company's commitment to sustainable and efficient operation, while enhancing customer experience through innovative, convenient, and environmentally responsible programmes," it said. - Bernama