Petronet LNG, India’s largest importer of the chilled gas, said its net profit for the fourth quarter ended March rose 76.5 percent to Rs 300 crore, as compared to the same period a year ago.
The company’s sales fell 31 percent to Rs 7,161.7 crore during the quarter from Rs 10,427.8 crore in the same quarter last year on lower volumes.
Operating profit dropped 43 percent to Rs 221.4 crore as compared to the same quarter a year ago.
For the fiscal year ended March 31, Petronet LNG posted a 24 percent rise in its net profit to Rs 883 crore, as compared to the previous fiscal year.
In the fourth quarter ended March, capacity utilisation at Petronet LNG’ Dahej terminal was at 75 percent, while Kochi utilisation rose about 7 percent.
LNG World News Staff; Image: Petronet LNG