Petronet LNG Ltd. on Saturday reported a 22% rise in June-quarter net profit as it handled more gas volumes compared with the year-earlier period when a nationwide lockdown had shrunk fuel demand.
Net profit in April-June came at ₹636 crore as compared with ₹520 crore earned a year earlier, CEO A.K. Singh said. The profit was, however, lower than ₹643 crore profit earned in January-March quarter due to the impact of COVID second wave, he said. Petronet saw import volumes picking up in Q1 of the current fiscal as compared with the year-earlier period, but it was lower than the preceding quarter.
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