Petronet LNG has reported a ₹440-crore profit for the fourth quarter of financial year 2018-2019. This is 15.87 per cent lower than the ₹523 crore bottom-line reported by the company in the same quarter of the last financial year.
The company’s board of directors has recommended a 45 per cent dividend at ₹4.5 for each equity share of ₹10 each.
The profits during the quarter under review have been hit by an inventory loss of ₹119 crore. “The spot price of natural gas has fallen from $8.5 per million British thermal units (mBtu) at the beginning of the quarter to $4.3 per mBtu. This has brought down the profit by ₹119 crore in the fourth quarter of financial year 2018-2019,” Prabhat Singh , Managing Director and Chief Executive Officer, Petronet LNG, told BusinessLine.
