The state-run gas importer Petronet LNG reported a 13% increase in consolidated net profit to Rs 819 crore for the quarter ending in June for the current fiscal year from the Rs 725 crore reported in the corresponding quarter of the previous fiscal year.

On a quarterly basis, the net profit gained by 31%; this comes after the softening of liquified natural gas prices.

The company’s operating revenue slumped by 18% to Rs 11,656.38 crore for the quarter under review.

Petronet chief executive officer A.K. Singh had earlier stated that they get indications from the utilisation rate of gas import terminals.

The company recently commented that the global gas prices have eased.

Petronet LNG operates India’s largest liquefied natural gas (LNG) import terminal at Dahej in western India, which has the capacity to import 17.5 million metric tons of LNG per year.

At 3:30 pm, the share of Petronet LNG closed at Rs 233.10 or 1.70% above its previous close on NSE.