Petronet LNG reports stellar results

Petronet LNG posted good numbers for Q4FY18 and full year FY18. The company has reported net sales of Rs. 8,739.63 crore in Q4FY18 as compared to Rs. 6,515.82 crore in Q4FY17.

The company posted highest ever quarterly net profit of Rs. 522.69 crores for Q4FY18 as against Rs. 470.79 crores for Q4FY17, up by 11 per cent. The increase in profit was on the back of higher volume processing by better utilization of facilities, especially, the Dahej import terminal.

On full year basis, net profit was at Rs. 2,077.85 crore for FY18 as against Rs 1,705.67 crore in FY17, which is up by 21.82 per cent. Sales for FY18 was at Rs 30,598.62 crore as against Rs, 24,616.03 crore in FY17, up by 24.30 per cent.

Petronet's board has recommended dividend at 45 per cent, which is Rs. 4.50 per share for the year ended FY18.

Cheering the news, the stock of Petronet LNG was quoting Rs. 15.00 per share, up by 1.97 per cent, on Tuesday, at 9:47 hours.