Indian Petronet 1Q After Tax Profit Up 16%

Indian Petronet LNG has reported a profit after tax of rupees 4.38bn ($68mn) in the April-June quarter, up 16% over the corresponding quarter, it said August 10.

The growth in profit before tax is due to higher volumes processed following the increase in regasification capacity, post expansion of the Dahej LNG terminal, as well as better efficiency achieved in the operations, Petronet said August 10.

During the quarter, the company processed its highest ever combined throughput, with 192 trillion Btu. The Dahej terminal processed 184tn Btu of LNG and operated at around 97% of its average increased nameplate capacity. The Dahej terminal witnessed an increase in throughput over the corresponding quarter by 12%, it said.

The Kochi LNG terminal processed its highest ever quantity with 8tn Btu of LNG during the quarter.

Shardul Sharma