Petronet LNG’s profit jumps

Petronet LNG, India’s largest importer of the chilled fuel, on Tuesday reported an increase in profit for the quarter ended March 31.

According to the company’s filing to the stock exchange, Petronet LNG profit rose to 4.71 billion rupees (US$72.8 million) from 3.97 billion rupees in the previous quarter.

Compared to the corresponding quarter in 2016 when the company reported a profit of 2.45 billion rupees, Petronet LNG’s profit almost doubled.

The company’s net sales rose up 5 percent year on year reaching 64 billion rupees on the back of higher LNG prices during the quarter.

Petronet’s 15 mtpa Dahej liquefied natural gas terminal in Gujarat handled a total of 177.1 trillion British thermal units during the quarter.

The 5 mtpa Kochi LNG terminal’s utilization was at a low 4 percent during the quarter under review.

1 INR = 0.0154699 USD

LNG World News Staff