India's Petronet 3Q Profit Up 7%

India’s biggest LNG importer Petronet LNG said January 31 its net profit during the three months to December 31 (3Q 2019) was up 6.9% year-on-year.

Company reported a net profit of rupee 5.65bn ($79mn) compared with rupees 5.28bn in the same quarter last year. For the nine months to December 31 (9M 2019), Petronet’s net profit was record rupees 17.15bn, up 10% year-on-year, it said.

During 3Q, Petronet processed 202 trillion Btu of LNG, as against 223 trillion Btu in the same qurter last year. The Dahej terminal, in the western Indian state of Gujarat, operated at around 103% of its nameplate capacity and processed 197 trillion Btu of LNG in 3Q, as against 215 trillion Btu in the corresponding quarter of previous year. Its Kochi terminal, in south India, handled 5 trillion Btu of LNG, Petronet said.

Petronet said it took a record 639 trillion Btu of LNG in the first nine months of the year compared with 634 trillion Btu in the same period of last year.