Petronet LNG’s profit surges 82 pct

Kochi LNG terminal (Image: Petronet LNG)
Kochi LNG terminal (Image: Petronet LNG)

Petronet LNG, India’s largest importer of the chilled fuel, on Thursday reported an 82 percent rise in its quarterly net profit, boosted by higher regasification volumes at its Dahej terminal.

The company posted a net profit of 4.60 billion rupees ($67 million) for the September quarter as compared to 2.53 billion rupees in the corresponding quarter a year ago.

This is the “highest profit after tax in any of the previous quarters,” Petronet LNG said in its statement.

Petronet LNG’s sales in the June-September quarter were at 63.39 billion rupees, down from 72.5 billion rupees in the same quarter in 2015.

During the quarter, the company’s Dahej terminal has operated at more than its nameplate capacity.

The terminal regasified 185 trillion British thermal units (TBTUs), a 12% increase as compared to previous quarter and 21% increase as compared to the corresponding quarter.

“Kochi terminal, however handled only 4 TBTUs of LNG along with the reload services and primarily served two consumers in the vicinity of the terminal i.e., Kochi refinery and FACT,” Petronet said.

Petronet LNG shares rose nearly 8 percent on Friday after the company posted a rise in its quarterly profit.

1 Indian rupee = 0.014698 U.S. dollars


LNG World News Staff


Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >