Petronet LNG shares surge 7 pc after September quarter results

Petronet LNG shares gained nearly 7 percent on Wednesday after the company reported nearly doubling of net profit in the September quarter on the back of improved margins. The shares of the company advanced 6.37 percent to Rs 297 on the BSE.

On the NSE, it jumped 6.66 percent to Rs 297.75. Net profit in July-September at Rs 1,089 crore was 90 percent higher than Rs 572.89 crore net profit in the same period, the company said in a regulatory filing.

Revenue from operations, however, slipped to Rs 9,361.18 crore from Rs 10,745.34 crore in the second of the previous fiscal year. Petronet said its board of directors approved a special interim dividend of Rs 5.50 per share for the 2019-20 fiscal year.