Indian Petronet's Q1 Profit Drops 11%

Petronet LNG, India’s largest LNG importer, on August 17 reported a consolidated net profit of rupees 4.99bn ($67mn) during the three months to June 30 (Q1), down 11% yr/yr as less LNG was imported.

The company’s revenue during Q1 was rupees 49.51bn compared with rupees 87.17bn in the same period of last year. The overall LNG volume processed was 190 trillion Btu, compared with 226 trillion Btu last year. 

Petronet LNG operates two LNG receiving terminals in India: one is in Gujarat on the west coast and the other is in Kerala in the south.