Petronet LNG’s profit up 11 pct on higher volumes

Petronet LNG, India’s largest importer of liquefied natural gas, reported a 33 percent increase in its quarterly net profit on the back of higher regasification volumes at its Dahej and Kochi terminals.

The LNG importer said its net profit after tax rose to 5.29 billion rupees ($82.2m) in the December quarter, as compared to 3.97 billion rupees in the same quarter a year before.

Petronet said its Dahej LNG import facility regasified 215 trillion British thermal units in the quarter under review, operating at around 113 percent of its nameplate capacity.

These volumes rose by 15 percent over the same quarter the year before and 2 percent over the previous quarter.

The company’s Kochi LNG terminal regasified 8 trillion British thermal units of LNG, Petronet said.

LNG World News Staff