Petronet LNG Shares Zooms ~2% After Release of Q2 FY25 Results

Petronet LNG Ltd, India’s largest gas importer, reported a 4% year-on-year increase in net profit, reaching ₹848 crore for the second quarter ended September 30, 2024. This compares to a net profit of ₹818 crore in the same quarter of the previous fiscal year, according to a regulatory filing. The profit figure fell short of the ₹877 crore forecasted in a CNBC-TV18 poll.

Revenue from operations for the quarter also rose by 4%, totalling ₹13,021.8 crore, up from ₹12,553 crore in the corresponding period last year. The reported revenue was below the poll’s expectation of ₹13,289 crore.

The company processed a total LNG volume of 239 TBTU in the current quarter, an increase from 223 TBTU last year, although it was lower than the 262 TBTU processed in the previous quarter. Notably, the Dahej terminal recorded its highest-ever LNG processing in the first half of the financial year, reaching 473 TBTU compared to 428 TBTU during H1 of FY23.

Additionally, the board of directors has declared an interim dividend of ₹7 per equity share (with a face value of ₹10 each) for FY25. The record date and payment details for this interim dividend will be communicated in due course, as per statutory requirements.

Petronet CEO and Managing Director A.K. Singh said throughput at the Dahej terminal rose by 7% in the second quarter when compared with the year-ago period.

On October 25, 204, Petronet LNG shares opened at ₹331.80 and touched the day high of ₹343.15 at 09:30 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.