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Petronet LNG’s Q2 profit-rise powers shares by over 8%

 PTI |  2016-11-19 00:18:06.0  |  New Delhi

Shares of Petronet LNG surged over 8 per cent on Friday after the company reported its highest ever quarterly net profit at Rs 460 crore in September quarter. Petronet LNG Ltd is an Indian oil and gas company formed by the government of India to import liquefied natural gas and set up LNG terminals in the country.

The stock jumped 8.38 per cent to Rs 376.45 on BSE.

Intra-day, it zoomed 9 per cent to Rs 378.85.

At NSE, shares of the company soared 8.19 per cent to close at Rs 376.25.

In terms of volume, 8.95 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

Petronet LNG Ltd, the nation’s largest importer of liquid gas, yesterday reported its highest ever quarterly net profit at Rs 460 crore in September quarter on back of record volumes of gas handled. Net profit of Rs 460 crore in July-September is 82 per cent higher than Rs 253 crore net profit in the same period a year ago, company CEO and Managing Director Prabhat Singh said.

“We processed highest ever natural gas of 189 trillion British thermal units in second quarter, up from 157 TBtus last year,” he said.

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