Highest Capacity utilization of 117% at Dahej Terminal
7-Nov-2014

  • Highest Capacity utilization of 117% at Dahej Terminal
  • Quarterly PAT of Rs 263 crore
  • Quarterly turnover of Rs 10,980crore.

During the quarter ended 30th September, 2014, the Company’s Dahej terminalhas operated at highest level ever of around 117 % of its name plate capacity. The volume regasified at the Dahej Terminal during the secondquarter of FY 2014-15 was149.16 TBTUs. The Kochi Terminal, commissioned last year, however processed 1.31 TBTUs of LNG serving the Kochi Refinery in the vicinity of the Terminal. The total volume processed i.e. 150.47 TBTUs compares with a volume of 138.67 TBTUs in the previous quarter and 122.93 TBTUs in the corresponding quarter of the last year.

The net profit  of Rs. 263Crore in the second quarter is an increase of about 68% over the previous quarter of the current year (i.e. Rs. 157 Crore) and 45 %  increase over the corresponding quarter of the last year ( i.e. Rs. 182 Crore). This is despite the additional charge of depreciation and interest cost on account of Kochi LNG terminaland second jetty at Dahej. The reason for a sharp increase in profit is an overall increase in volumes and higher trading margins at Dahej for spot / short-term volumes.

The work for expansion of Dahej LNG terminal from 10 MMTPA to 15 MMTPA is going on as per schedule and it is expected that this capacity expansion will be completed by end of the year 2016.Encouraged by the increasing demand at Dahej, the Board of Directors have given their approval to undertake further studies to make an assessment for further expansion of the Dahej terminal to 17.50 MMTPA.

Truck loading facilities at Kochi have been commissioned and supplies started to M/s HLL at Trivandrum.

Taking advantage of the prevailing market conditions, the company has prepaid its loans from Rupee lenders amounting to Rs 1,032 Crore by replacing these with lower cost unsecured bonds of Rs 1,000 Crore placed in the Indian market.

Meanwhile, the Government of Andhra Pradesh has accorded approval for setting up the LNG Project of 5 MMTPA at Gangavaram.

A K Chopra
Vice President (HR/PR)


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