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Petronet LNG's Q1 Profit up by 90% to Rs. 108 crores.

Petronet LNG recorded Net Profit After Tax of Rs. 108 crores and achieved Turnover of Rs.1562 crore during the quarter, posting a 90% growth in Net Profit and 52% growth in turnover over corresponding quarter of last year. During the quarter, the company processed and sold 78.62 TBTUs against 66.35 TBTUs in last quarter ending June 30, 2006 achieving 130% capacity utilization.  

Mr. P Dasgupta MD & CEO stated that the Company had entered into a term contract for sourcing additional 1.25 MMT of LNG with RasGas, Qatar on 3rd July 2007. This additional LNG will be used to supply R-LNG from Dahej Terminal to stranded Ratnagiri Gas & Power Pvt.

He also informed that Dahej Terminal capacity would progressively be increased to 10 MMTPA between July 2008 and January 2009 as per schedule. The work on Greenfield Terminal at Kochi has already commenced and would be completed in first quarter of 2011.

Source: Date: July 16, 2007
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