Petronet LNG Q3 up 73 pc at Rs 295.38 cr

NEW DELHI: Petronet LNG Ltd, the nation's largest liquefied natural gas importer, today reported a 73 per cent rise in net profit in third quarter ended December 31 on back of increased imports.

Net profit in October-December increased 72.9 per cent to Rs 295.38 crore, the company said in a press statement here.

"The company has operated (its Dahej terminal in Gujarat) at 115 per cent of its capacity. Total regasified volume rose to 144.92 trillion British thermal units against 119.70 trillion Btus," it said.

Dahej terminal has a nameplate capacity of 10 million tonnes per annum.

Petronet said construction work at Kochi terminal in Kerala is on schedule and is expected to be commissioned by second quarter of 2012-13.

"Looking at the huge demand of natural gas including LNG in the country and to take further advantage of economies of scale, the board of the company decided to increase the capacity of its Dahej terminal by additional 5 million tonnes," Petronet said.

Dahej capacity would rise to 15 million tons per annum by September 2013.

"After encouraging preliminary studies, the board of the company has also given its go ahead for carrying out a detailed feasibility study for greenfield terminal at Gangavaran port on the east coast," the statement added.