India’s Petronet LNG says quarterly profit, volumes down

India’s Petronet LNG reported an 11.2 percent drop in its net profit in the second quarter of fiscal 2021-22 due to lower volumes at its Dahej regasification terminal.

Profit after tax or PAT reached 8.23 billion rupees ($110.9 million) in the July-September quarter, compared to 9.27 billion rupees last year.

However, India’s largest LNG importer said its PAT increased when compared to 6.36 billion rupees in the prior quarter.

During the quarter, Petronet’s Dahej terminal processed 225 TBTU of LNG. This compares to 243 TBTU in the same quarter last year and 194 TBTU in the previous quarter, according to Petronet.

Including the Kochi facility, the overall LNG volumes reached 240 TBTU. Petronet said this compares to 254 TBTU last year and 209 TBTU in the previous quarter.

Besides the 17.5 mtpa Dahej terminal and the 5 mtpa Kochi plant on the west coast of India, Petronet is working on a new FSRU-based import facility at the Gopalpur port in Odisha as it looks to establish its presence on the eastern coast of the country.

- Advertisements -

Most Popular

Delfin plans to take FID on first floating LNG producer in Q2

Delfin Midstream, the developer of a floating LNG export project in the Gulf of Mexico, is expecting to take...

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Mexico Pacific seals another LNG supply deal with Shell

A unit of LNG giant Shell has signed another long-term deal to buy liquefied natural gas from Mexico Pacific,...

More News Like This

India’s LNG imports continue to rise

India’s liquefied natural gas (LNG) imports rose for the second month in a row in February, according to the...

India’s Petronet LNG extends CFO’s term

India's largest importer of liquefied natural gas, Petronet LNG, has extended the contract of its finance chief Vinod Kumar...

India reports higher LNG imports in January

India’s liquefied natural gas (LNG) imports rose by 7.5 percent in January, while the import bill increased by 23...

Petronet LNG inks cooperation deal with Oil India

India's largest importer of liquefied natural gas, Petronet LNG, has signed a deal with state-run producer Oil India to...