Petronet LNG Shares Rally On Better Results

Shares in Petronet LNG rallied after the company reported a good set of quarterly numbers.

The stock moved higher by as much as much as 6 percent to Rs 295. Sales at the company were up 8.7 percent to Rs 9,361.2 crore, as against an estimate of around Rs 9,000 crores.

Petronet LNG Shares Rally On Better Results

Net profit was up 2 times to Rs 1,103.1 crore, while the Ebitda up 13.3 percent to Rs 1,160.4 crore.

Analysts have upgraded the stock to a buy on better than expected results.

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