Petronet LNG Q4 net profit soars fuelled by favourable gas prices before conflict pressures

India’s largest importer of liquified natural gas (LNG) Petronet LNG’s consolidated net profits soared 25.3% on a year-over-year basis to ₹1,337.6 crore in the March-end quarter notwithstanding a decline an approximately 23% decline in revenues, a dynamics primarily fuelled by favourable gas price regime before the onset of the conflict.

Cost of materials consumed in the March-end quarter lowered 28.5% on a year-over-year basis to ₹7,746 crore.

The Delhi-headquartered company’s revenue declined 23% during the mentioned period to ₹9,642.3 crore.