Petronet reports 3% increase in profit in October-December
Petronet LNG, India’s biggest LNG importer, on January 20 reported a 3.2% year/year jump in consolidated net profit in the three months to December 31 (Q3FY2023).
The company has posted a net profit of 11.96bn rupees ($150mn) for the period as against a net profit of 11.59bn for the quarter that ended December 31, 2021. Petronet’s total revenue during the quarter came in at 159.55bn rupees, up 25.94% yr/yr.
The company has reported total revenue of 464.17bn during the nine-month period (9M) that ended December 31 versus 322.24bn in the previous year. Petronet posted a net profit of 27.07bn in 9M as against a net profit of 26.47bn in the previous year.
During 9M Dahej terminal processed 532 trillion BTU of LNG as against 615 trillion BTU processed during the corresponding nine months that ended on December 31, 2021. The overall LNG volume processed by 9M was 567 trillion BTU, as against 657 trillion BTU in the previous year.
Petronet operates two import and regasification terminals in India.