Petronet, Bilt results

Petronet LNG today reported a 65 per cent increase in net profit for the July-September quarter to Rs 66 crore on a 46 per cent increase in revenue to Rs 1,383 crore, from Rs 947 crore in the same period last year.  
This performance comes on the back of growing trade volumes in spot LNG, a high margin business which it intends to focus on during the rest of the year too.  
"In the first half of the year, we imported five spot cargoes, of which three were in the July-Sept quarter. We should be doing 8-9 cargoes in the second half of the year," CEO and managing director P Dasgupta said.  
Each cargo contains about 133,000 cubic metres of gas and costs about $30 million.  
The planned doubling of spot cargo in the Oct-Mar period points to a better performance in the second half of the year.  
Gail, ONGC, IOC and BPCL togther hold a 50 per cent stake (12.5 per cent each) in the company, while Gaz de France holds 10 per cent and ADB holds 5.2 per cent.  
Petronet owns a 5 million metric tonne per annum (mmtpa) capacity LNG terminal at Dahej in Gujarat though "the company achieved capacity utilisation of 6.5 million tonnes equivalent annualised," a statement from Petronet said.  
Capacity expansion of Dahej is underway as is the work on a greenfield 2.5 mmtpa LNG receiving and regassification terminal at Kochi, which is scalable to 5 mmtpa.
Bilt first quarter profit up 32%

LM Thapar-owned Ballarpur Industries (Bilt), largest paper manufacturer in the country, has registered 31.8 per cent rise in profit for the 2006-07 Q1 (June-September) period at Rs 58.26 crore due to rise in paper prices and higher sales volume.  
The revenues jumped by 17 per cent to Rs 494.88 crore compared with same period in the last fiscal. The company had increased the price of coated paper by Rs 1,000 per tonne in July and the price of uncoated paper by Rs 600 per tonne in September.  
The total paper sales for this quarter registered an increase of about 16 per cent at 1,13,496 tonne compared with last year.  
The paper production increased by about 17 per cent to 1,14,396 tonne over the same period. The company is also planning to increase the price of paper across all categories by Rs 500 per tonne in November keeping in view the demand for paper, said managing director R R Vederah.  

Source: Business Standard, New Delhi
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