business π Petronet LNG revenues drop over 50% due to West Asia tensions
Petronet LNG's standalone revenues fell by over 52% during the June-end quarter because of supply issues caused by West Asia conflict. This major Indian importer experienced a sharp dip in earnings during the reported period. Revenues dropped to βΉ5,788 crore compared to the same period last year. Interestingly, the company's net profit managed to increase by about 33.2% to βΉ1,132 crore. This reflects the impact of regional geopolitical instability on the gas market.