Petronet net profit slips 7% in Q1 at Rs 520.23 crore, revenue falls 43%

Petronet LNG Ltd, the nation's largest liquid gas importer, reported a better than expected profitability in the June quarter as its operations had a modest impact of lockdown because of a quick recovery in later part of the quarter.

The standalone net profit at Rs 520.23 crore, or Rs 3.47 per share, was 7.1 per cent lower than Rs 560.27 crore, or Rs 3.74 a share, net profit in the same period a year back, the company said in a regulatory filing.

Revenue fell 43 per cent to Rs 4951.9 crore in the first quarter of the current 2020-21 fiscal.