Petronet LNG Q1 profit jumps 16%

New Delhi: Petronet LNG, India’s largest natural gas importer, has reported a 16% jump in quarterly profit mainly on capacity expansion at its Dahej terminal.

In the April-June quarter, profit rose to Rs 438 crore from Rs 378 crore in the year-ago period. Revenue rose a fifth to Rs 6,435 crore.

The profit rose “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 said in a statement.

During the quarter, Petronet processed highest combined throughput at 192 trillion British thermal unit (TBTU) of liquefied natural gas (LNG), according to the statement. Dahej terminal processed 184 TBTU of LNG and had operated at around 97% of its average increased name plate capacity.

The Dahej Terminal processed 12% more LNG during the quarter than a year ago.