Petronet LNG shares jumped as much as 4 per cent on Tuesday as India's biggest natural gas importer reported strong earnings for the April-June quarter.
New Delhi-based Petronet LNG reported 55 per cent jump in its net profit at Rs 378 crore on improved capacity utilisation at its Dahej facility. Petronet LNG's volumes were 6 per cent higher than the Street's estimates at 168.1 TBTU (Trillion British Thermal Units).
Petronet LNG had reported a net profit of Rs 244 crore in the corresponding quarter of last fiscal.
However, Petronet LNG's revenues declined 36 per cent to Rs 5,337 crore compared to Rs 8,377 crore last year, hit by lower natural gas prices.
In spite of lower revenues, Petronet LNG's EBITDA or operating profit increased 81 per cent to Rs 642 crore in Q1 compared to Rs 355 crore last year. Its EBITDA was driven by higher marketing margins, analysts say.
Petronet LNG shares closed 0.86 per cent higher at Rs 356.45 compared to 1.51 per cent gain in the Nifty50 index.
Petronet LNG shares jumped as much as 4 per cent on Tuesday as India's biggest natural gas importer reported strong earnings for the April-June quarter.
New Delhi-based Petronet LNG reported 55 per cent jump in its net profit at Rs 378 crore on improved capacity utilisation at its Dahej facility. Petronet LNG's volumes were 6 per cent higher than the Street's estimates at 168.1 TBTU (Trillion British Thermal Units).
Petronet LNG had reported a net profit of Rs 244 crore in the corresponding quarter of last fiscal.
However, Petronet LNG's revenues declined 36 per cent to Rs 5,337 crore compared to Rs 8,377 crore last year, hit by lower natural gas prices.
In spite of lower revenues, Petronet LNG's EBITDA or operating profit increased 81 per cent to Rs 642 crore in Q1 compared to Rs 355 crore last year. Its EBITDA was driven by higher marketing margins, analysts say.
Petronet LNG shares closed 0.86 per cent higher at Rs 356.45 compared to 1.51 per cent gain in the Nifty50 index.
Petronet LNG shares jumped as much as 4 per cent on Tuesday as India's biggest natural gas importer reported strong earnings for the April-June quarter.
New Delhi-based Petronet LNG reported 55 per cent jump in its net profit at Rs 378 crore on improved capacity utilisation at its Dahej facility. Petronet LNG's volumes were 6 per cent higher than the Street's estimates at 168.1 TBTU (Trillion British Thermal Units).
Petronet LNG had reported a net profit of Rs 244 crore in the corresponding quarter of last fiscal.
However, Petronet LNG's revenues declined 36 per cent to Rs 5,337 crore compared to Rs 8,377 crore last year, hit by lower natural gas prices.
In spite of lower revenues, Petronet LNG's EBITDA or operating profit increased 81 per cent to Rs 642 crore in Q1 compared to Rs 355 crore last year. Its EBITDA was driven by higher marketing margins, analysts say.
Petronet LNG shares closed 0.86 per cent higher at Rs 356.45 compared to 1.51 per cent gain in the Nifty50 index.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR