Petronet LNG's consolidated net profit soared 34.07% to Rs 670.06 crore on 76.05% increase in revenue from operations to Rs 8,597.90 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).
Profit before tax jumped 30.86% to Rs 884.88 crore in Q1 FY22 as against Rs 676.16 crore in Q1 FY21. The Q1 result was declared post trading hours yesterday, 13 August 2021.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), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). Each company held 12.50% stake in Petronet as on 30 June 2021.
Shares of Petronet LNG rose 0.35% to Rs 216.50 on BSE. The stock has traded in the range of Rs 216.35 to Rs 217.95 so far.
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