The company's total expenditure declined 23.2% to Rs 5992.94 crore in Q3 FY21 from Rs 7802.66 crore in Q3 FY20, which aided net profit.

Shares of Petronet LNG were trading 0.86% lower at Rs 240.75 on BSE.

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) (holds 12.50% stake), Oil & Natural Gas Corporation (ONGC) (holds 12.50% stake), Indian Oil Corporation (IOCL) (holds 12.50% stake) and Bharat Petroleum Corporation (BPCL) (holds 12.50% stake).