Press Release - Financial Results

  • Highest ever profit of Rs 1,706 Crore for FY 2016-17
  • Highest ever profit of Rs 471 Crore in a Quarter in Q4, 2016-17
  • Highest ever quantity of LNG processed in FY 2016-17 at 728 TBTU

During the FY 2016-17, the Company’s Dahej Terminal processed highest ever LNG quantities of 714 TBTU, which is 26% above the LNG quantities process in FY 2015-16, i.e. 566 TBTUs and operated at 106% of its average increased nameplate capacity. The overall quantities processed by the Company in FY 2016-17 was 728 TBTU as compared to 580 TBTU processed in 2015-16.

During the quarter ended 31st March, 2017 (current quarter), Dahej terminal processed 177 TBTU of LNG and had operated at around 92% of its average increased name plate capacity. The Company registered the highest ever profit of Rs 1,706 Crore in the FY 2016-17, which stood at Rs 913 Crore in the corresponding period, witnessing a growth of 87%.

The Company has reported profit after tax of Rs 471 Crore in the current quarter which is the highest ever profit in a quarter and is an increase of 92% over the corresponding quarter (i.e. Rs 245 Crore).

The significant increase in profit over the corresponding quarter ended 31st March, 2016 and corresponding FY 2015-16 respectively, is due to higher volumes processed because of the increase in the Regasification capacity, post expansion of the Dahej Terminal and better efficiency achieved in the operations.

The Company made an investment of Rs 75 Crore (approx.) for 26% equity in the India LNG Transport Company No (4)Pvt Ltd (Vessel named Prachi)in the current quarter.

The Company has created a wholly owned subsidiary company in the name of Petronet LNG Foundation (Not For Profit Company) to further the CSR initiatives of the Company.

The Board of Directors has recommended a bonus issue of 1:1 and an increase in the Authorised Capital of the Company from Rs 1,200 Crore to Rs 3,000 Crore, subject to the approval of the shareholders.

The Board of Directors has also recommended a dividend of Rs. 5.00 per equity share of Rs 10 each (50.00%) for the year 2016-17 subject to the approval of the shareholders.

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