Petronet LNG net profit declines 32% q-o-q in Q4 FY22

BL New Delhi Bureau | | Updated on: May 11, 2022

On an annual basis, the net profit of the country’s largest gas importer rose 24 per cent from Rs 638 crore in Q4 FY21

Petronet LNG on Wednesday reported a 32 per cent decline in its consolidated net profit at ₹791 crore for the fourth quarter ended March 31, 2022. On an annual basis, the net profit of the country’s largest gas importer rose 24 per cent from ₹638 crore in Q4 FY21.

The joint venture firm of state-run oil PSUs, Petronet’s consolidated total income fell 11 per cent quarter-on-quarter (q-o-q) to ₹11,241.74 crore from ₹12,669.14 crore in Q3 FY22. On an annual basis, total income grew 47 per cent from ₹7,624.47 crore in Q4 FY21.

Petronet is a joint venture of IOC, GAIL, Oil and Natural Gas Corp (ONGC) and BPCL. The four state-owned firms hold 12.5 per cent stake each in the company whose chairman is the Petroleum Secretary. It operates liquefied natural gas (LNG) import terminals at Dahej in Gujarat and Kochi in Kerala.

“The Board of Directors of the company in its above said meeting has also, inter-alia, recommended a final dividend of ₹4.50 per share (on the face value of ₹10 each) on the equity shares of the company for the financial year 2021-22. The final dividend is subject to approval of shareholders in the forthcoming Annual General Meeting,” Petronet LNG said in a regulatory filing on exchanges.

For the entire fiscal, Petronet reported a total consolidated income of ₹43,466.30 crore against ₹26,381.98 crore in FY21. Consolidated net rose to ₹3,438.11 crore during FY22 from ₹2,939.23 crore in FY21.

Published on May 11, 2022
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