Petronet LNG Q2 net up 9% to Rs 131 cr

Petronet LNG, the nation's largest liquefied natural gas importer, today reported a 8.65 per cent rise in net profit at Rs 131.12 crore in the quarter ended September 30.

Petronet had posted a net profit of Rs 120.67 crore in the July-September quarter of last fiscal, a company press statement said.

Sales, however, dropped to Rs 3,067.72 crore from Rs 3,406.65 crore a year ago.

The company, which operates a 10-million-tonnes-a-year capacity LNG import and regassification facility at Dahej in Gujarat, said construction of a 2.5-million-tonnes import terminal at Kochi in Kerala was progressing as per schedule.

"The project is likely to be commissioned in the fourth quarter of 2011-12," the statement said, adding the company has till date spent an amount of Rs 1,600 crore on the project.