Petronet fourth quarter net profit up 11 per cent at Rs 522 crore


Petronet fourth quarter net profit up 11 per cent at Rs 522 crore

Petronet LNG Ltd (PLL), India’s largest Liquefied Natural Gas (LNG) importer, posted an 11 per cent increase in net profit for the quarter ended March 2018 at Rs 522.69 crore on a standalone basis on the back of higher volumes processed and better efficiencies in operations, CEO and Managing Director Prabhat Singh said on Monday.

Total income of the company also rose 34 per cent to Rs 8,739 crore from Rs 6,515 crore in the corresponding quarter.

The company processed 18 per cent higher imported gas at 213 trillion British thermal unit (TBtus) in the fourth quarter of 2017-18 fiscal. It’s mainstay Dahej import terminal in Gujarat processed 17 per cent higher gas at 207 TBtus.

Petronet’s expenses for the fourth quarter grew a whopping 35 per cent to Rs 7,949 crore as compared to Rs 5,897 crore recorded in the corresponding quarter previous fiscal (2016-17). This was mainly on the back of 38 per cent jump in cost of materials during the quarter to Rs 7,645 crore. Read More

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