Petronet LNG Q4 PAT slides 20% to Rs 373 cr

Petronet LNG's consolidated net profit dropped 19.80% to Rs 373.20 crore on 2.19% rise in net sales to Rs 8,567.15 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax (PBT) tanked 26.37% to Rs 500.43 crore in Q4 FY20 as against Rs 679.69 crore in Q4 FY19. Total tax expense skid 40.63% to Rs 127.23 crore in Q4 FY20 as against Rs 214.31 crore paid in Q4 FY19. The Q4 result was declared after trading hours yesterday, 29 June 2020.

Tho operations of the company were uninterrupted during the lockdown due to outbreak of COVID-19, as natural gas is declared as one of the essential commodities. Considering the above, and the company's healthy liquidity position, there is no uncertainty in the going concern of the company and it will be able to meet its financial obligations over the foreseeable future.

Meanwhile, the board has recommended a final dividend of Rs 7 per equity share for the year 2019-20.

Petronet LNG was formed as a joint venture by the Government of India to import LNG and set up LNG terminals in the country, involving India's leading oil and natural gas industry players like GAIL (India), ONGC, Indian Oil Corporation (IOCL) and BPCL.

Shares of Petronet LNG rose 0.27% to Rs 263.55 on BSE. The scrip hovered in the range of Rs 253 to Rs 264.40 so far.

Powered by Capital Market - Live News