Petronet LNG Q3 net doubles to Rs 397.47 cr

Petronet LNG Q3 net doubles to Rs 397.47 cr

14/02/2017 13:00

Country’s biggest liquefied natural gas importer Petronet LNG Ltd has reported a jump of over two-fold in its standalone net profit after taxes (PAT) at Rs 397.47 crore for the third quarter ended December 31, 2016, as it handled record volumes of imported gas.

“The standalone net profit of the company stood at Rs 170.92 crore during the same period a year ago,” Petronet LNG Ltd said in a filing to the Bombay Stock Exchange.

Further, its standalone total income, too, rose by 21.6 per cent to Rs 6,354.32 crore during Q3 2016-17, as compared to Rs 5,227.47 crore during the same period last year.

“The significant increase in profit is due to higher volumes processed and better efficiency achieved in the operations,” Petronet LNG Ltd, Managing Director, Prabhat Singh said.

Meanwhile, shares of the company were trading at Rs 383.05 apiece, up 0.33 per cent, from previous close on BSE at 13:05 hours.

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