Petronet LNG Q1 profit up by 90%

The Pioneer, New Delhi, 17 July 2007


Petronet LNG recorded a net profit after tax of Rs 108 crore and achieved turnover of Rs 1562 crore during the quarter, posting a 90 per cent growth in net profit and 52 per cent growth in turnover over corresponding quarter of last year.

During the quarter, the company processed and sold 78.62 TBTUs against 66.35 TBTUs in last quarter ending June 30, 2006 achieving 130 per cent capacity utilisation. P Dasgupta MD and CEO stated that the company had entered into a term contract for sourcing additional 1.25 MMT of LNG with RasGas, Qatar on 3rd July 2007. This additional LNG will be used to supply R-LNG from Dahej Terminal to stranded Ratnagiri Gas & Power Pvt.

He also informed that Dahej Terminal capacity would progressively be increased.