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Revenue from operations declined 6.52% to Rs 14,747.21 crore in the quarter ended 31 December 2023 from Rs 15,775.87 crore in the quarter ended 31 December 2022.
As compared to Q2 FY24, the company's net profit surged 42.44% while revenue from operation jumped 17.67% in Q3 FY24.
Profit before tax increased 1.01% to Rs 1,596.84 crore in December 2023 quarter compared from Rs 1,580.87 crore recorded in the corresponding quarter last year.
Total expenses declined 7.42% to Rs 13,306.92 crore in Q3 FY24 as compared with Rs 14,374.64 crore in Q3 FY23. Cost of materials consumed was at Rs 12,617.87 crore (down 8.94% YoY) and finance cost stood at Rs 69.67 crore (down 14.35% YoY) during the period under review.
On nine month basis, the company's net profit grew by 6.58% to Rs 2,883.83 crore despite of 15.40% decline in revenue from operations to Rs 38,936.16 crore in 9M FY24 over 9M FY23.
Petronet LNG is involved in the business of import and regasification of LNG and supply to BPCL, GAIL, IOCL and others. Presently, the company owns and operates LNG Regasification Terminals with name plate capacity of 17.5 MMTPA at Dahej.
The scrip hit a 52 week high at Rs 284.50 in intraday today.
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