Petronet LNG Q4 Results: Net Profit Up 20% To Rs 738 Crore

Petronet LNG Ltd, India's largest liquefied natural gas importer, reported a 20% rise in the March quarter net profit on the back of importing higher LNG volumes. For the entire financial year, Petronet reported highest-ever net profit of Rs 3,536 crore on the back of a 22% growth in volume throughput.

The net profit reported in the March quarter was Rs 738 crore as compared with Rs 614 crore in the same period of the previous year, Petronet MD & CEO Akshay Kumar Singh told reporters.

The profit was, however, lower than Rs 1,191 crore earned in the preceding quarter.

During the current quarter ended March 31, Petronet's mainstay Dahej terminal in Gujarat processed 219 trillion British thermal units (TBTU) of LNG as against 218 TBTU during the previous quarter and 172 TBTU during the corresponding quarter of the previous fiscal.

The overall LNG volume processed by the company during the January-March period was the highest ever at 234 TBTU, as against the LNG volume processed in the previous and corresponding quarters, which stood at 232 TBTU and 185 TBTU, respectively.

In FY24, Dahej terminal processed 865 TBTU of LNG as against 704 TBTU processed during the previous financial year ended March 31, 2023.

The overall LNG volume processed by the company in the current financial year was 919 TBTU, as against the LNG volume processed in the previous financial year, which stood at 752 TBTU.

'The company was able to achieve robust financial results riding on stable LNG prices and achieving efficiency and optimization in its operation,' Singh said.

Considering the robust performance, the board of directors of the company has approved a final dividend of Rs 3 per share.