Petronet’s profit climbs 28 pct on record LNG volumes

Petronet LNG, India’s largest importer of liquefied natural gas, reported a 28 percent increase in its quarterly net profit, boosted by higher regasification volumes at its Dahej and Kochi terminals.

The LNG importer said its net profit after tax rose to 5.89 billion rupees ($15.4m) in the September quarter, as compared to 4.60 billion rupees in the same quarter a year before.

Shares of Petronet LNG rose as much as 5.4 percent on Thursday, their highest since October 24.

Petronet said its Dahej LNG import facility regasified record 210 trillion British thermal units in the quarter under review, operating at around 110 percent of its nameplate capacity.

These volumes rose by 14 percent over the same quarter the year before.

The company’s Kochi LNG terminal “processed the highest ever quantity” of 10 TBtu of LNG, Petronet said.

LNG World News Staff