Petronet LNG Ltd Share Price – NSE  /  BSE

Gas Distribution, Small Cap

Petronet LNG has successfully concluded and executed a LNG Sale & Purchase Agreement (LNG SPA) for purchase of around 7.5 MMTPA LNG with QatarEnergy on long-term basis today. This is pursuant to extension of an existing LNG SPA for LNG supply of around 7.5 MMTPA LNG Sale & Purchase Agreement on FOB basis, signed on 31 July 1999 for supplies till 2028. Under the new agreement, LNG supplies will be made on delivered (DES) basis commencing from 2028 till 2048.

This LNG SPA between PLL and QatarEnergy will ensure energy security of the India and assure continued supplies of regasified LNG to major consuming sectors like fertilisers, CGD, refineries & petchem, power and other industries

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Revenue from operations declined 6.52% to Rs 14,747.21 crore in the quarter ended 31 December 2023 from Rs 15,775.87 crore in the quarter ended 31 December 2022.

As compared to Q2 FY24, the company's net profit surged 42.44% while revenue from operation jumped 17.67% in Q3 FY24.

Profit before tax increased 1.01% to Rs 1,596.84 crore in December 2023 quarter compared from Rs 1,580.87 crore recorded in the corresponding quarter last year.

Total expenses declined 7.42% to Rs 13,306.92 crore in Q3 FY24 as compared with Rs 14,374.64 crore in Q3 FY23. Cost of materials consumed was at Rs 12,617.87 crore (down 8.94% YoY) and finance cost stood at Rs 69.67 crore (down 14.35% YoY) during the period under review.

On nine month basis, the company's net profit grew by 6.58% to Rs 2,883.83 crore despite of 15.40% decline in revenue from operations to Rs 38,936.16 crore in 9M FY24 over 9M FY23.

Petronet LNG is involved in the business of import and regasification of LNG and supply to BPCL, GAIL, IOCL and others. Presently, the company owns and operates LNG Regasification Terminals with name plate capacity of 17.5 MMTPA at Dahej.

The scrip hit a 52 week high at Rs 284.50 in intraday today.

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Net profit of Petronet LNG rose 1.38% to Rs 1212.98 crore in the quarter ended December 2023 as against Rs 1196.46 crore during the previous quarter ended December 2022. Sales declined 6.52% to Rs 14747.21 crore in the quarter ended December 2023 as against Rs 15775.87 crore during the previous quarter ended December 2022.

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Petronet LNG will hold a meeting of the Board of Directors of the Company on 29 January 2024.

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