Petronet LNG Q2 results: Net profit declines 16% to Rs 927 crore

NEW DELHI: Petronet LNG, the country’s largest natural gas importer, has posted a 16 per cent decline in quarterly profit due to a shift in tax regime.

The profit for the July-September quarter fell to Rs 927 crore from Rs 1,103 crore a year earlier. The profit before tax, however, rose 40 per cent to a record high of Rs 1,242 crore during the quarter from a year earlier on resurgence of demand and effective commercial planning, said Vinod Kumar Mishra, the finance chief and acting CEO of Petronet LNG.