Petronet LNG Ltd. on Wednesday announced the appointment of Saurav Mitra as the company's director of finance as well as its chief financial officer.
The company's board of directors, in a meeting held on the same day, “approved the appointment of Saurav Mitra as Director (Finance) and Chief Financial Officer (whole-time KMP) of the company from the date of joining”, according to an exchange filing.
The appointment was made on the recommendation of nomination and remuneration committee and approval of the audit committee of the board, it added.
Mitra will take over from Vinod Kumar Mishra, whose tenure as director of finance and CFO will be expiring with effect from April 18, 2025.
The disclosure stated that Mitra's tenure will be for a period of five years from the date of taking over the charge of the said position.
Mitra, 56, is an associate member of the Institute of Cost Accountants of India. He is a “seasoned finance professional” with a distinguished career spanning more than three decades in Indian Oil Corp. At Lanka IOC PLC., Mitra held key leadership position of CFO, the filing added.
He played a crucial role in driving financial strategy and operational excellence during a phase of significant business consolidation and growth, it further stated.
The company will inform the stock exchanges about Mitra's date of joining, the filing said.
Earlier, on March 12, the oil and gas major had informed via a stock exchange filing about the "closure of trading window for the purpose of change in KMP".
The company on Wednesday said though "the said event is being made public at large", the trading window will continue to remain closed for all insiders till 48 hours after the financial results for the quarter and year ended March 31, 2025 would generally become available to the public.
For the third quarter of financial year 2024-25, Petronet LNG had announced a sequential increase of 2.1% in its net profit to Rs 867 crore. In the preceding quarter, the oil and gas company had reported a profit of Rs 849 crore.
Shares of Petronet LNG Ltd. closed 1.93% higher at Rs 301.35 apiece on the BSE, compared to a 0.4% advance in the benchmark Sensex. However, the company shared the news about the change in leadership on Wednesday after the stock markets had closed.
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