KUALA LUMPUR, May 19 (Bernama) — Following the sharp decline of petroleum product prices and lower demand impacted by the implementation of Movement Control Order (MCO) in the second half of March 2020, PETRONAS Dagangan Berhad (PDB) recorded a Loss Before Tax of RM18.4 million for the financial period ended 31st March 2020, compared to a Profit Before Tax (PBT) of RM383 million for the same quarter last year.
On the back of lower average selling price by 3% and a 4% decline in sales volume primarily for Mogas, Jet A1 and Diesel, the Company’s revenue decreased by 8% to RM6,553.9 million as compared to the corresponding period in the previous year. However, PDB saw growth in its LPG household business where sales volume grew by 2% as well as a 20% growth in Kedai Mesra income.
