Petronet LNG shares down over 4% on disappointing Q1 results

Petronet LNG's stock today tumbled over 4 per cent after the company reported a 30 per cent drop in its first quarter net profit.
Shares of Petronet LNG ended 4.25 per cent lower at Rs 172.30 on the BSE. During the day, the stock fell 5.11 per cent to Rs 170.75.
At the NSE, the scrip settled at Rs 172.90, down 4.05 per cent from its previous closing price.
On the volume front, 3.46 lakh shares of the company changed hands at the BSE, while more than 30 lakh shares were traded at the NSE during the day.
Petronet LNG Ltd had yesterday reported a 30 per cent drop in its first quarter net profit on lower margins and said it has received interest from 17-18 global LNG players for hiring its almost idle Kochi terminal.

Petronet, India's biggest importer of liquefied natural gas (LNG), reported a net profit of Rs 156.60 crore in April-June, down from Rs 225.32 crore in the same period a year ago.