Petronet LNG posts surge in profit

India’s Petronet LNG reported a 70.9 percent rise in its net profit in the fourth quarter of fiscal 2020-21.

Consolidated net profit reached 6.37 billion rupees ($87.2 million) in the quarter, compared to 3.73 billion rupees last year.

Compared to the previous quarter, profit declined 27.7 percent.

Petronet’s revenue also dropped to 76.2 billion rupees in the January-March period, compared to 86.5 billion rupees in the corresponding quarter but revenue rose slightly when compared to the previous quarter of 74.2 billion rupees.

India’s largest LNG importer receives the fuel via its Dahej and Kochi terminals.

The company’s 17.5 mtpa Dahej terminal operated at 94 percent capacity in April-March, the PPAC data previously showed.

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