Petronet LNG First Quarter Net Profit Rises by 8% (India)

Petronet LNG Limited has achieved a net profit of Rs.111.37 crores, an increase of 8% in its net profit after tax compared to corresponding quarter of previous year due to increased efficiency in its operations.

This is despite additional depreciation of Rs.20.52 crores and interest of Rs.25.70 crores in comparison to the corresponding quarter of previous year on account of expansion of Dahej LNG Terminal to 10 MMTPA in July 2009.

The construction of company’s 2nd LNG Terminal at Kochi is progressing as per schedule and will be commissioned in the last quarter of Year 2011-12.

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Source: Petronet LNG, July 30, 2010;