The stock has fallen after four days of consecutive gains. On technical parameters, it is trading at higher than 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.
Shares of Petronet LNG are in focus today after India’s biggest gas importer announced its financial results for the quarter ending March 31. Despite reporting the highest-ever quarterly profit during January-March, shares of the company traded in the red. The counter started the session at Rs 318 against the previous close of Rs 320.75 on the BSE. It fell further to touch the low of Rs 310 – a dip of 3.24 per cent from the last closing price. While it rebounded to touch the intraday high of Rs 321, it couldn’t hold the level for long. Last seen, it was trading at Rs 316.45.
The stock has fallen after four days of consecutive gains. On technical parameters, it is trading at higher than 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.
Petronet LNG Q4 Results
Petronet LNG Ltd has announced quarterly results and the company reported a net profit of Rs 1,070.18 crore in the January-March quarter. This was 23.4 per cent higher than Rs 737.68 crore in the fourth quarter of last fiscal year. The jump comes after gas off-takers paid for volumes they had defaulted on previously.
LNG is natural gas that has been cooled to about minus 162 degrees Celsius to turn it into a liquid. This reduces its volume by about 600 times, making it much easier and more cost-effective to store and transport by ships.
Petronet processed 205 trillion British thermal units in Q4, down from 234 trillion British thermal units a year back and 228 TBtus in the preceding quarter, company CEO and Managing Director A K Singh told reporters in an earnings call.
Petronet Share Price History
Shares of the liquefied natural gas importer have a 52-week high of Rs 384.80 and a 52-week low of Rs 253.50. The market cap of the company is Rs 47,505 crore.
As per the BSE Analytics, the stock has given a positive return of over 41 per cent in 2 years. However, it has corrected around 8.82 per cent so far this year.
