Petronet LNG's net profit down by 20 per cent

State run natural gas importer Petronet LNG Ltd., on May 17 has declared its Q4FY16 results. The company for the March quarter has reported a net profit of Rs 239.27 crores. Net profits have seen a plunge of 20 per cent as compared to Q4FY15. EBITDA for the period stands at Rs 446.59 crores. Consolidated total income from operations stands at Rs 6065.26 crores for the quarter, as against Rs 7161.69 crores for the corresponding period of the previous fiscal.

On a YoY basis, net profits after minority interest stand at Rs 928.53 crores, whereas for the previous fiscal it stood at Rs 904.8 crores. Net profit has increased by 3 per cent. EBITDA stands at Rs 1645.53 crores and has increased by 8 per cent from the previous year. Consolidated total income for the period stands at Rs 27222.95 crores.

The company is currently expanding the Dahej terminal capacity from 5 mtpa to 15 mtpa at a cost of Rs 2,400 crore. The company has already spent over Rs 1,600 crore on the project and plans to spend an additional Rs 600 crore this fiscal.

Petronet LNG Ltd., is an Indian oil and gas company formed by the government of India to import Liquefied Natural Gas (LNG) and set up LNG terminals in the country. It is a joint venture company promoted by the Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL).

The shares on the bourses on Wednesday have opened at Rs 278.20, down by 0.50 per cent.