Petronet LNG gains 2.5% on good performance in Q3

Petronet LNG , a joint venture by the Government of India to import LNG and set up LNG terminals in the country, rose as much as 2.5 percent in morning trade on Monday on good performance in Q3.

Net profit of the company grew 1.2 percent quarter-on-quarter and 7.8 percent year-on-year to Rs 318.5 crore in the third quarter of current financial year 2012-13 as against an expectation of a decline in profits.

Sales increased 12 percent QoQ and 34 percent YoY to Rs 8,375 crore during the same period. Volumes rose by 4 percent QoQ to 141 TBTU, which was in-line with expectations.

At 10:44 hours IST, the stock moved up 1.58 percent to Rs 164.05 on Bombay Stock Exchange.

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