Petronet LNG Q1 net jumps 90%

Petronet LNG Ltd has recorded a 90 per cent jump in its net profit and 52 per cent growth in turnover for the first quarter of the current fiscal. It recorded net profit after tax of Rs 108 crore and achieved a turnover of Rs 1,562 crore during the quarter.

During the quarter, the company processed and sold 78.62 trillion British thermal units (TBTUs) against 66.35 TBTUs in the last quarter ending June 30, 2006, achieving 130 per cent capacity utilisation.

Mr P. Dasgupta, Managing Director and Chief Executive Officer, stated that the company had entered into a term contract for sourcing additional 1.25 million tonnes of LNG with RasGas, Qatar, on July 3. This additional LNG will be used to supply R-LNG from Dahej Terminal to the stranded Ratnagiri Gas & Power Pvt Ltd.

He also informed that Dahej Terminal capacity would progressively be increased to 10 MTPA between July 2008 and January 2009 as per schedule.

Source: Business Line, New Delhi, 17 July 2007
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