Petronet LNG Q4 PAT rises 24% YoY to Rs 734 cr

NEW DELHI : The LNG(liquefied natural gas) importer’s consolidated net profit jumped 24.16% to Rs 734.07 crore in Q4 FY24 as compared with Rs 591.24 crore reported in Q4 FY23.

During the quarter, revenue from operations declined marginally to Rs 13,793.16 crore as against Rs 13873.93 crore recorded in the same quarter previous year.

Profit before tax grew by 24.77% year on year to Rs 992.03 crore in the quarter ended 31 March 2024.

On full year basis, the company’s consolidated net profit rose 10.64% to Rs 3,527.02 crore despite of 11.97% decline in revenue to Rs 52,729.33 crore in FY24 over FY23.

Meanwhile, the firms’ board has recommended a final dividend of Rs 3 per equity share for the financial year 2023-24, subject to approval of shareholders.

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.