Petronet net profit Q1 jumps 43%
India's largest liquefied natural gas importer, Petronet LNG Ltd on Friday reported an impressive 43 per cent jump in its net profit in the first quarter of current fiscal on back of additional revenues from import of spot LNG cargoes.
By PTI |
NEW DELHI: India's largest liquefied natural gas importer, Petronet LNG Ltd on Friday reported an impressive 43 per cent jump in its net profit in the first quarter of current fiscal on back of additional revenues from import of spot LNG cargoes.
PLL, a joint venture company of state-owned Indian Oil Corp, Bharat Petroleum Corp, GAIL and Oil and Natural Gas Corp, reported net profit of Rs 56.08 crore in April-June, up from Rs 39.13 crore in the same quarter last fiscal.
Company officials said net sales rose 10 per cent to Rs 1019.08 crore as against Rs 921.23 crore the previous year.
The income from operations included Rs 8.34 crore revenue from regassifying a spot cargo of LNG.
PLL imported 5 million tonnes per annum of LNG from RasGas of Qatar under a long-term contract. However, in the first quarter of current fiscal its Dahej receipt and regassification terminal in Gujarat received one additional spot cargores of LNG imported by state gas utility GAIL.
Petronet, which had in 2005-06 full year posted a net profit of Rs 194.92 crore on net income of Rs 3837.17 crore, this month imported two spot cargoes of LNG.
PLL, a joint venture company of state-owned Indian Oil Corp, Bharat Petroleum Corp, GAIL and Oil and Natural Gas Corp, reported net profit of Rs 56.08 crore in April-June, up from Rs 39.13 crore in the same quarter last fiscal.
Company officials said net sales rose 10 per cent to Rs 1019.08 crore as against Rs 921.23 crore the previous year.
The income from operations included Rs 8.34 crore revenue from regassifying a spot cargo of LNG.
PLL imported 5 million tonnes per annum of LNG from RasGas of Qatar under a long-term contract. However, in the first quarter of current fiscal its Dahej receipt and regassification terminal in Gujarat received one additional spot cargores of LNG imported by state gas utility GAIL.
Petronet, which had in 2005-06 full year posted a net profit of Rs 194.92 crore on net income of Rs 3837.17 crore, this month imported two spot cargoes of LNG.
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