India: Petronet LNG Profit Dips

Petronet LNG of India posted a net profit of Rs. 1355.50 million for the quarter ended December 31, a drop of 57 percent compared to the same quarter in 2012.

The decrease in net profit was primarily due to higher depreciation and interest charges pertaining to the Kochi LNG import terminal, the company said in a statement.

Total income has increased from Rs. 84377.00 million for the quarter ended December 31, 2012 to Rs. 94037.30 million for the quarter ended December 31, 2013, Petronet added.

1 Indian rupee = 0.015967 U.S. dollars

[mappress]

LNG World News Staff, January 31, 2014