Petronet reports highest ever quarterly net profit at Rs 675 cr in Q3

Petronet LNG Ltd, India's biggest liquefied natural gas importer, on Monday reported highest ever quarterly net profit of Rs 675 crore in the third quarter ended December on back of processing higher volumes of gas.

Net profit in October-December at Rs 675 crore was 17 per cent higher than Rs 565 crore net profit in the same period a year ago, Petronet Managing Director & CEO Prabhat Singh told reporters here.

Petronet processed 233 trillion British thermal units (TBtus) of LNG in the quarter as compared to 202 TBtus in Q3 of 2018-19. Its flagship Dahej import facility in Gujarat operated at around 100 per cent of its nameplate capacity and processed 222 TBtus of LNG, up from 197 TBtus a year back, he said.

"The significant increase in profit year to date is due to higher volumes processed owing to commercial efficacy and better efficiency in operations," he said.