However, the company's net profit has declined by 27.7% in Q4 FY21 compared with Rs 882.05 crore in Q3 FY21.

Net sales during the quarter fell 11.6% to Rs 7575.32 crore as compared with the same period last year.

Profit before tax (PBT) in Q4 FY21 stood at Rs 870.67 crore, up 74% from Rs 500.43 crore in Q4 FY20. PBT fell 26% in Q4 FY21 compared with Rs 1,175.94 crore reported in Q3 FY21.

Current tax outgo increased 41.8% to Rs 234 crore in Q4 FY21 over Q4 FY20.

The company reported 8.7% rise in consolidated net profit to Rs 2939.23 crore on 26.6% fall in net sales to Rs 26022.90 crore in FY21 over FY20.

The board of directors of the company has recommended final dividend of Rs 3.50 per share for the financial year 2020-21.

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), Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). Each company held 12.50% stake in Petronet as on 31 March 2021.

The scrip fell 1.61% to currently trade at Rs 244.05 on the BSE.