Indian Petronet's Profit Drops During Jul-Sept

India’s biggest LNG importer Petronet LNG on November 11 reported a net profit of rupees 9.27bn ($120mn) for the three months ending September 30 (Q2), down 15.9% yr/yr. Net profit surged 78% q/q, though, as demand for gas recovered to pre-Covid-19 levels.

During the quarter Petronet’s Dahej terminal handled more LNG than every before – some 243 trillion Btu, versus 181 trillion Btu in the previous quarter and 240 trillion Btu a year earlier. Overall, the company took 254 trillion Btu of LNG, up from 190 trillion Btu in the previous quarter and 250 trillion Btu a year before.

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