Petronet LNG reported a 30% rise in consolidated net profit to Rs 882.05 crore on 17.8% decline in net sales to Rs 7,328.23 crore in Q3 FY21 over Q3 FY20.
Consolidated profit before tax jumped 29.8% to Rs 1175.94 crore in Q3 FY21 over Q3 FY20. Current tax expense spiked 37.7% to Rs 296 crore in Q3 FY21 over Q3 FY20.The company's total expenditure declined 23.2% to Rs 5992.94 crore in Q3 FY21 from Rs 7802.66 crore in Q3 FY20, which aided net profit.
Shares of Petronet LNG were trading 0.86% lower at Rs 240.75 on BSE.
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) (holds 12.50% stake), Oil & Natural Gas Corporation (ONGC) (holds 12.50% stake), Indian Oil Corporation (IOCL) (holds 12.50% stake) and Bharat Petroleum Corporation (BPCL) (holds 12.50% stake).
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