NEW DELHI: Petronet LNG has reported a Rs 373.2 crore consolidated net profit for the fourth quarter of financial year 2019-2020. This is lower than the Rs 465.38 crore net profit it reported in the comparable quarter of the previous financial year.
In a filing to BSE, the Petronet LNG Board has recommended a final dividend of Rs 7 per share, on the face value of Rs 10 each, on the equity shares of the company for the financial year 2019-2020. The final dividend is subject to approval of shareholders in the forthcoming Annual General Meeting.
The consolidated total revenue during the quarter under review stood at ₹ Rs 8,653.63 crore, up from Rs 8,534.59 crore in the same period of the last fiscal. For the full year 2019-2020, the consolidated net profit was reported at Rs 2,703.35 crore, up from ₹Rs 2,230.56 crore for fiscal 2018-2019. Revenue for the fiscal 2019-2020 was ₹Rs 35,815.57 crore, down from ₹Rs 3,8841.22 crore.
According to Petronet LNG Managing Director and Chief Executive Officer Prabhat Singh said the company is hoping to encourage the adoption of LNG as a long-distance transport fuel in the country.