KUALA LUMPUR: Despite positive contributions from higher sales volume, Petroliam Nasional Bhd's (Petronas) revenue for the year ended Mar 31, 2010 (FY10) fell 18.1% to RM216.4 billion from RM264.2 billion due to lower sales prices.
Similarly, its net profit for FY10 dropped 23.2% to RM40.3 billion from RM52.5 billion a year ago.
The group's revenue continued to be led by petroleum products which contributed 37% to total revenue, followed by crude oil (23%) and liquified natural gas (LNG, 17%).
Petronas said the decline in the group's revenue for the year proved to be broad-based, reflected in lower revenue streams from "virtually" all products.
The group's payment to the federal and state governments in FY10 amounted to RM57.6 billion, a decline of 22.2% from the previous year.
This it said comprised a dividend payment of RM30 billion, taxes of RM18.7 billion, petroleum proceeds of RM8.3 billion and export duties of RM600 million to the federal government. The group's petroleum proceeds to the state governments totalled RM4.1 billion.
However, Petronas' balance sheet items for the year under review continued to strengthen as total assets climbed RM21.1 billion to RM410.9 billion while shareholder's fund increased RM10.8 billion to RM242.9 billion.
Similarly, its net profit for FY10 dropped 23.2% to RM40.3 billion from RM52.5 billion a year ago.
The group's revenue continued to be led by petroleum products which contributed 37% to total revenue, followed by crude oil (23%) and liquified natural gas (LNG, 17%).
Petronas said the decline in the group's revenue for the year proved to be broad-based, reflected in lower revenue streams from "virtually" all products.
The group's payment to the federal and state governments in FY10 amounted to RM57.6 billion, a decline of 22.2% from the previous year.
This it said comprised a dividend payment of RM30 billion, taxes of RM18.7 billion, petroleum proceeds of RM8.3 billion and export duties of RM600 million to the federal government. The group's petroleum proceeds to the state governments totalled RM4.1 billion.
However, Petronas' balance sheet items for the year under review continued to strengthen as total assets climbed RM21.1 billion to RM410.9 billion while shareholder's fund increased RM10.8 billion to RM242.9 billion.
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