India’s largest LNG importer Petronet LNG reported record quarterly volumes at its Dahej and Kochi regasification terminals.
During the May-June quarter, the Dahej LNG terminal processed highest ever 248 TBTU of LNG as against 219 TBTU during the previous quarter and 217 TBTU in the same quarter last year, marking a rise of 13 percent and 14 percent respectively, according to Petronet.
The Dahej terminal reached a capacity utilization of 109 percent in the current quarter, as against 97 percent in the previous quarter and 96 percent in the corresponding quarter.
The overall LNG volume processed by Perronet LNG in the May-June quarter was 262 TBTU, highest ever throughput volume for any quarter, Petronet said.
This compares to 234 TBTU and 230 TBTU in the previous and corresponding quarter, a rise of growth of 12 percent and 14 percent respectively.
Profit after tax or PAT reached 11.42 billion rupees ($136 million) in the quarter under review, a rise of 55 percent and 45 percent respectively compared to the previous and corresponding quarter.
India’s largest LNG importer said its profit before tax or PBT rose to 15.20 billion rupees compared to 9.96 billion rupees in the previous quarter and also from 10.62 billion rupees in the corresponding quarter.
The PBT and PAT of the current quarter are the highest ever reported by the company in the first quarter of any of the previous financial years, Petronet said.
Petronet said it was able to achieve “higher throughput and robust financial results owing to stable LNG prices, better capacity utilization of its terminals, and efficiency in its operations.”