KUALA LUMPUR, Nov. 29 (Xinhua) -- Malaysia's state-owned energy firm Petroliam Nasional Berhad (Petronas) has reported lower profit in the third quarter ended Sept. 30 in line with lower energy prices.
The group said in a statement on Wednesday that its profit after tax for the quarter fell 22.4 percent year on year to 23.9 billion ringgit (5.14 billion U.S. dollars).
Its revenue for the quarter also declined by 16.18 percent year on year to 82.9 billion ringgit, primarily due to lower average realized prices, partially offset by favorable foreign exchange impact.
The group said the poorer financial performance was due to declining energy prices, partially offset by higher sales volume for major products. (1 ringgit equals 0.21 U.S. dollar) ■