New Delhi: Petronet LNG Ltd, India's largest liquefied natural gas (LNG) importer, reported a 9 percent rise in the September quarter consolidated net profit on Monday as margins rose. It posted a consolidated net profit of Rs 855.74 crore, or Rs 5.70 per share, in July-September compared with Rs 785.73 crore, or Rs 5.24 a share, earning in the same period a year ago, according to a company's stock exchange filing.
Revenue was down 21.6 percent at Rs 12,532.57 crore on lower gas prices. Margin rose to 9.7 percent in the second quarter of the current fiscal. Petronet said its board of directors approved an investment of Rs 20,685 crore for setting up a petrochemical plant at Dahej in Gujarat. However, Petronet LNG shares tanked 8.44 percent on Monday after the company announced its costly diversification plan for petrochemicals.
PLNG’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose slightly to Rs 1,409.13 crore, from Rs 1,308.59 crore in the same period last year.
