India’s largest Liquified Natural Gas (LNG) importer Petronet LNG booked highest ever profit of Rs 1,181 crore in the third quarter of FY23, up from Rs 1,144 crore in the year-ago period. Profit stood at Rs 744 crore in the second quarter.
The company, a joint venture of state-owned Bharat Petroleum, IOCL, ONGC, and GAIL, argued it was able to achieve the results due to cooling global LNG prices, and operational optimisation cutting power and fuel costs. The company has reported highest ever turnover of Rs 46,025 crore in the first nine months against Rs 32,008 crore in the same period in FY22, a 44 per cent rise.
