Petronet LNG reports 14% year-on-year rise in PAT at Rs 3,352 crore in FY 2021-22
India’s top gas importer Petronet LNG reported its highest ever profit before tax (PBT) and profit after tax (PAT) in financial year (FY) 2021-22.
The company reported 13 per cent year-on-year rise in its PBT at Rs 4,474 crore for FY 2021-22 while the PAT grew 14 per cent on-year at Rs 3,352 crore.
In the quarter ended March 2021 (Q4), the Petronet LNG reported PBT of Rs 984 crore, up nearly 15 per cent on-year while its PAT during the quarter jumped over 20 per cent on-year to Rs Rs 750 crore. In the preceding quarter ended December 2021 (Q3), the PBT was Rs 1,533 crore while the PAT stood at Rs 1,144 crore.
In a statement, the company said that it was able to achieve robust financial results owing to efficient commercial management inspite of high and volatile spot gas prices during the year.
Considering the robust performance, Petronet LNG’s Board of Directors has approved final dividend of Rs 4.50 per share.
The company’s Dahej terminal processed 178 TBTU of LNG in Q4, against 196 TBTU in Q3 and 204 TBTU during the corresponding year ago. The overall LNG volume processed by Petronet in the current quarter was 190 TBTU, against 208 TBTU in Q3 and 218 TBTU year ago.
For FY 2021-22, the company processed 847 TBTU, against the throughput of 896 TBTU in the previous year.