Petronet LNG drops 7.47% in two days on weak Q1 result

Petronet LNG lost 4.36% to Rs 172.10 at 15:00 IST on BSE, with the stock extending Monday's 3.25% slide triggered by reporting weak Q1 result.

Meanwhile, the S&P BSE Sensex was up 118.50 points or 0.46% at 25,841.66

On BSE, so far 3.07 lakh shares were traded in the counter as against average daily volume of 2.37 lakh shares in the past one quarter.

The stock hit a high of Rs 177 and a low of Rs 170.75 so far during the day. The stock had hit a record high of Rs 190.30 on 30 July 2014. The stock had hit a 52-week low of Rs 102.50 on 28 January 2014.

The stock outperformed the market over the past one month till 4 August 2014, rising 0.9% compared with 0.92% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 23.98% as against Sensex's 14.82% rise.

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

Shares of Petronet LNG dropped 7.47% in two trading days from recent low of Rs 186 on 1 August 2014 triggered by reporting weak Q1 result. The stock lost 3.25% to settle at Rs 179.95 on Monday, 4 August 2014.

Petronet LNG's net profit declined 30.5% to Rs 156.60 crore on 20.1% growth in net sales to Rs 10064.72 crore in Q1 June 2014 over Q1 June 2013. The result was announced during market hours on Monday, 4 August 2014.

Petronet LNG was formed as a joint venture by the Government of India (GoI) to import LNG and set up LNG terminals in the country.

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