Rs 7.00/Share Dividend: PSU Gas Stock Hits Lower Circuit, Shares Tank 10% On Result Day

Leading public sector undertaking from the gas & petroleum sector, Petronet LNG on October 30 declared its consolidated net profit at Rs 855.74 crore for Q2 of the FY 2023-24, up 9% from the year ago period.

Petronet LNG announced an interim dividend of Rs 7/- (Rupees seven only) per equity share (of the face value of Rs. 10/- each) of the Company for the FY 2023-24. However, Petronet LNG shares tanked 10% to end the day at Rs 201.70 per share due to its expensive diversification plans that left investors anxious.

Petronet LNG Q2: The company informed that its Board gave nod to investment of approximately Rs 20,685 crore for setting up of petrochemicals project of 750 KTPA of PDH & 500 KTPA of PP plant that included the propane and ethane handling facility at Dahej, Gujarat.

Sequentially, Petronet LNG's net profit was up 5%. Its revenue from operations declared at Rs 12,532 crore for the quarter ended September 30, 2023 as against Rs 15,985 crore an year ago. The company's EBITDA (earnings before interest, taxes, depreciation, and amortization) soared marginally to Rs 1409.13 crore from Rs 1308.59 crore announced in the corresponding period of last year.

Petronet LNG Declares Interim Dividend: According to the BSE filing of the company dated October 30, 2023, "The Board of Directors of Petronet LNG Limited in its above said meeting has also, inter-alia, declared interim dividend of Rs. 7/- (Rupees seven only) per equity share (of the face value of Rs. 10/- each) of the Company for the Financial Year 2023-24."

Petronet LNG Record Date For Interim Dividend: As per the exchange filing of the company, "Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Record date has been fixed as Friday, 10 th November, 2023 for the purpose of ascertaining the entitlement of Members to the Interim Dividend of Rs 7.00 (Seven Rupees only) per share (on the face value of Rs. 10/- each) on the equity shares of the Company."

Petronet LNG Stock Performance & Return: Last trading price of Petronet LNG on BSE is Rs 201.70 apiece today. Its 52-week high price is Rs 254.25 per share and 52-week low price is Rs 198.30 per share, respectively. The company's market capitalisation is Rs 30,255.00 crore. Petronet LNG shares declined 15% in last 6-months, fell 3.45% in last 1-year, and slipped nearly 12% in last 3-years.

Petronet LNG About: Petronet LNG Limited is one of the fastest growing world-class Public Limited Company in the Indian energy sector. It has set up the country's first LNG receiving and regasification terminal at Dahej, Gujarat with present nominal capacity of 17.5 MMTPA and another terminal at Kochi, Kerala having a nominal capacity of 5 MMTPA. The company is also exploring suitable opportunities within and outside India to expand its business presence, according to its official website.

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