Petronet LNG profit climbs on higher regas volumes

Kochi LNG terminal (Image: Archive)

Petronet LNG, India’s largest importer of liquefied natural gas, reported an 11 percent increase in its quarterly net profit on the back of higher regasification volumes at its Dahej and Kochi terminals.

The LNG importer said its net profit after tax rose to 5.22 billion rupees ($76.7m) in the March quarter, as compared to 4.70 billion rupees in the same quarter a year before.

The company said its Dahej LNG import facility regasified 207 trillion British thermal units in the quarter under review, operating at around 107 percent of its nameplate capacity.

These volumes rose by 17 percent over the same quarter the year before.

The overall regasification volumes, including the Kochi facility, rose 18 percent in the quarter to 213 trillion British thermal units.