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    Petronet LNG's Profit Up 30% in Oct-Dec

Summary

Profit was up year/year but down quarter/quarter.

by: Shardul Sharma

Posted in:

Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), News By Country, India

Petronet LNG's Profit Up 30% in Oct-Dec

Petronet LNG, India’s biggest LNG importer, on February 11 reported a 30% year/year increase in profit during the three months ending December 31 (Q3) as demand for gas recovered to pre-Covid-19 levels. 

The company realised a profit of rupees 8.78bn ($112mn) compared with rupees 6.75bn in the corresponding quarter of the previous year. Profit was down 5% quarter/quarter.  

During the quarter Petronet’s Dahej terminal handled 222 trillion Btu of LNG, unchanged yr/yr. Overall, the company took 235 trillion Btu of LNG, up from 233 trillion Btu in the same quarter of last year. 

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.