• Natural Gas News

    Petronet LNG's profit up 73% in Q4

Summary

India's biggest LNG importer's net profit was down 30% quarter/quarter, however.

by: Shardul Sharma

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Corporate, Financials, News By Country, India

Petronet LNG's profit up 73% in Q4

Petronet LNG, India’s biggest LNG importer, on June 8 reported a standalone net profit of 6.23bn rupees ($85mn) in the three months to March 31 (Q4), up 73.5% year/year. Its standalone net profit was down 29% quarter/quarter, however.

Revenues from operations grew 3.4% yr/yr to 7.57bn rupees in the quarter compared with 7.32bn rupees posted last year. Standalone net profit for the 12 months to March 31 was 29.4bn rupees compared with 26.9bn rupees in the previous year, Petronet LNG said.

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.