Petronet records 65% Q2 growth

Petronet LNG, a natural gas importing firm promoted by state-owned oil companies, has achieved a growth of 65% in the second quarter, with net profit rising to Rs 66 crore on a turnover of Rs 1,383 crore, the company said in a release.

The company sourced three spot cargoes at internationally competitive prices during the quarter, establishing its presence in the global spot LNG market. company CEO and MD P Dasgupta said additional LNG imports are important for meeting the country's growing gas demand and the Company is committed to procuring additional spot cargos in the coming months.

The firm achieved capacity utilisation of 6.5 million tonnes by achieving gas evacuation of 24 million cubic meters a day.

Source: The Times of India, New Delhi
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