Malaysia's Petronas posts first quarter profit, revenue rises

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Malaysia's Petronas posts first quarter profit, revenue rises
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(Corrects headline and third paragraph to show revenue rose in Q1 year-on year, but dropped from the previous quarter)KUALA LUMPUR : Malaysia's state oil firm Petronas, or Petroliam Nasional Berhad, on Wednesday logged a first quarter profit and said it will continue to maintain a cautious outlook for 20

KUALA LUMPUR : Malaysia's state oil firm Petronas, or Petroliam Nasional Berhad, on Wednesday logged a first quarter profit and said it will continue to maintain a cautious outlook for 2023.

Petronas reported a post-tax profit of 23.8 billion ringgit for the three-month period, compared with profit of 23.4 billion ringgit in the same quarter a year ago. Revenue rose to 90.4 billion ringgit compared with 78.2 billion ringgit in the same quarter last year, but dropped 15 per cent from the fourth quarter of 2022.

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