Malaysian state energy company Petroliam Nasional Bhd said Monday its net profit fell 3.5% in the second quarter from the same period a year earlier, as increased operating expenses eroded margins despite higher sales volume.

Net profit for the three months ended June 30 was 12.51 billion ringgit ($3.80 billion) from MYR12.97 billion, the company said in a statement. Revenue rose 5.1% to MYR74.42 billion.

The company, also known as Petronas, is Malaysia 's only Fortune 500 company and most profitable enterprise. Petronas pays about $10 billion in annual dividends to the government, making it the largest contributor to state coffers.

Petronas' daily natural gas production in the second quarter was 1.3 million barrels of oil equivalent, an increase of 12.6%. Its daily crude oil and condensates production was 740,000 barrels of oil equivalent, an increase of 11.3% brought about by the temporary resumption of its South Sudan operation in March after disruption that lasted more than a year.

In 2012, Petronas lost around 120,000 barrels of oil equivalent a day from South Sudan due to that country's dispute between with neighboring Sudan over transit fees, though production at its Sudan operation wasn't affected.
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