Petronet LNG climbs over 6% as Q2 net profit surges 90% YoY
Shares of Petronet LNG climbed as much as 6.37 per cent to Rs 297 apiece on the BSE in the early morning deals on Wednesday, a day after the company reported nearly doubling of net profit in September quarter on the back of improved margins.
The company’s net profit during July-September period stood Rs 1,089 crore, up 90 per cent against Rs 572.89 crore posted in the year-ago period.
Revenue from operations, however, slipped to Rs 9,361.18 crore from Rs 10,745.34 crore in the second of the previous fiscal year.
That apart, the company’s board of directors also approved special interim dividend of Rs 5.50 per share for 2019-20 fiscal year.
Basic earnings per share (EPS) of the company increased to Rs 7.26 against Rs 3.82 in the corresponding quarter of the previous fiscal.
