During the quarter ended March 31, 2011, Petronet LNG has operated at its full capacity of around 10 MMTPA. The company has regasified a total volume of 125.75 TBTUs against 91.75 TBTUs in the corresponding quarter last year resulting in a turnover of Rs. 3,986 crores, an increase of over 67 % and Net Profit of Rs. 206 crores, an increase of over 113% from the corresponding quarter of last year.
During the financial year 2010-11, the company has regasified a total volume of 440.34 TBTUs against a total volume of 399.62 TBTUs in 2009-10. Turnover for the full year ended 31st March 2011 is Rs. 13,197 crores which has increased by 24% over the last financial year 2009-10. The net profit of Rs. 620 crores for the current financial year 2010-11 is the highest ever net profit achieved by the company since its inception. Net Profit for the full year has increased by around 53% over the last financial year 2009-10. The higher profit is on account of increased volume and increased efficiency in operations.
The Company has executed short term contracts for additional 1.5 MMTPA LNG for the Financial Year 2011-12 and 2012 -13 from various sources and has also sold this volume.
The Company has awarded contracts for construction of additional Jetty and associated unloading facilities at Dahej. The additional Jetty is expected to be commissioned by 2nd quarter of Financial Year 2013-14 and will further enhance the capacity at Dahej.
The Company has also awarded the contract for expansion of Kochi Terminal from 2.5 MMTPA to 5.0 MMTPA and the Terminal is expected to be commissioned by 3rd quarter of Financial Year 2012-13.
The Board has recommended a dividend of 20% for the financial year 2010-11 against 17.50% in the previous year.
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Source: Petronet LNG, April 27, 2011;