Petronet LNG Q4 net profit rises 24% to Rs 734 crore; declares final dividend

PLNG

Petronet LNG Limited on May 22 reported an increase of 24 percent in consolidated net profit year-on-year at Rs 734.07 crore in the fourth quarter of financial year 2023-24.

Consolidated net profit of the gas distributer stood at Rs 591.24 crore in the same period a year ago. Sequentially, net profit was down 38 percent from Rs 1 ,190.30 crore recorded in the quarter ended December 31, 2023.

Revenue from operations came in at Rs 13,793.16 crore in Q4, a marginal decline from Rs 13,873.93 crore in the year-ago period.

The company's board of directors recommended final dividend of Rs 3 per equity share, face value of Rs 10 per equity share.

In Q4, company’s Dahej terminal processed 219 TBTU (trillion British thermal unit) of LNG, compared to 218 TBTU during the previous quarter and 172 TBTU in Q4FY23, said PLNG in a press release.

The overall LNG volume processed by the company in the current quarter was 234 TBTU, as against the LNG volume processed in the previous and corresponding quarters, which stood at 232 TBTU and 185 TBTU, respectively.

For the financial year ended March 31, Dahej terminal processed 865 TBTU of LNG as against 704 TBTU processed during FY23. The overall LNG volume processed in FY24 was 919 TBTU, as against 752 TBTU in the previous year.

Shares of PLNG settled at Rs 309.65 apiece on the BSE, up 0.29 percent from previous close.