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Petronet LNG net profit surges 33pct in Q3

Gasoil News - Published on Tue, 13 Feb 2018

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Petronet LNG Ltd, India's biggest liquefied natural gas importer, reported its highest ever quarterly profit in the three months to December 31 as it processed record gas volumes. Net profit of INR 529 crore in October-December period was 33 per cent higher than INR 397 crore in the same quarter a year ago, Petronet Managing Director Mr Prabhat Singh said.

Mr Singh said that "Third quarter for us has traditionally seen lower volume processing than second quarter. Second quarter has always been the highest volume processing quarter. But in October- December, we processed volumes which were higher than the second quarter."

Petronet processed 223 Trillion British thermal unit of LNG, 2 per cent more than the previous quarter. Its flagship Dahej terminal in Gujarat processed 215 TBtus of imported gas, 15 per cent higher than third quarter of previous fiscal.

The 15 million tonnes a year terminal operated at 113 per cent of its capacity.

Mr Singh said the 5 million tonnes a year Kochi terminal operated at just 12 per cent of the capacity due to lack of pipeline to take the gas to customers. It also processed 12 per cent higher volume at 8 TBtu.

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Posted By : Nanda Koijam on Tue, 13 Feb 2018
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