Petronet LNG posts 13% net growth in Q4

Petronet LNG, the country's largest importer of liquefied natural gas (LNG), recorded a 13.21 per cent rise in net profit to Rs 120.04 in the quarter-ended March 2008 as compared with Rs 106.03 crore in the corresponding quarter last year.

Net sales rose 13.89 per cent to Rs 1,752.66 crore during the quarter from Rs 1,538.89 crore. The company's net profit growth was helped by the interest outgo of Rs 25.89 crore during the quarter ended March 2007.

The company, which is jointly owned by the Oil and Natural Gas Corporation, Indian Oil and Bharat Petroleum Corporation, recorded a 51.52 per cent rise in net profit to Rs 474.65 crore for the financial year ended March 2008 as compared with Rs 313.25 crore in 2006-07.

 

Sales during the year grew 18.99 per cent at Rs 6,555.31 crore as against Rs 5,508.95 crore in the previous financial year.

The company's expenditure during the financial year stood at Rs 5,689.18 crore, which is 17.04 per cent higher than the Rs 4,860.89 crore spent in 2006-07.

The company expanded its LNG gassification terminal to 6.5 million tonnes per annum (mtpa) from 5 mtpa during the year. The terminal is currently being expanded to 10 mtpa.