Petronet LNG profit up 55% to Rs377.86 crore in June quarter

Petronet’s total income during the June quarter fell to Rs.5,386.66 crore as against Rs.8,411.61 crore a year ago


Petronet is in the process to build its third terminal at Gangavaram in Andhra Pradesh.
Petronet is in the process to build its third terminal at Gangavaram in Andhra Pradesh.

New Delhi: Petronet LNG Ltd on Monday posted a nearly 55% jump in its standalone net profit at Rs.377.86 crore for the quarter ended 30 June.

The company had reported a net profit of Rs.244.12 crore in the corresponding quarter a year ago, it said in a BSE filing on Monday. However, total income during the period under review fell to Rs.5,386.66 crore as against Rs.8,411.61 crore a year ago.

Petronet LNG has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala. While the Dahej terminal has a nominal capacity of 10 mmtpa (equivalent to 40 mmscmd of natural gas), the Kochi terminal has a capacity of 5 mmtpa (equivalent to 20 mmscmd of natural gas).

The company is in the process to build the third terminal at Gangavaram, Andhra Pradesh. Formed as a joint venture by the government of India to import LNG and set up LNG terminals in the country, it involves India’s leading oil and natural gas industry players.

Its promoters are GAIL India Ltd, Oil & Natural Gas Corp. Ltd, Indian Oil Corp. Ltd and Bharat Petroleum Corp. Ltd. The authorised capital is Rs.1,200 crore.

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