JAKARTA. PT Perusahaan Gas Negara Tbk (PGAS) posted a net profit of US$186.6 million in the first semester (1H) 2024, growing 28.4% year-on-year (yoy) or from the same semester last year.

This growth is in line with PGAS' revenue performance in 1H 2024 which reached US$1.4 billion. The company's revenue in this period rose 3.08% yoy or from US$1.78 billion in the first half of last year.

Most of PGAS' revenue comes from the gas trading and transmission business lines, with revenues of US$1.65 billion. Meanwhile, the contribution of the oil and gas exploration and production business line was recorded at US$201.98 million, and other operations at US$147.99 million.

As of June 30 2024, PGAS' total assets were recorded at US$6.15 billion, with cash and cash equivalents of US$141.09 million. Meanwhile, total equity was recorded at US$3.44 billion. (KR/LM)