New Delhi: Liquefied natural gas importer Petronet LNG’s revenue from operations rose 38.3 per cent to Rs 10,745 crore during the quarter ended September 2018 as a direct implication of rise in prices of natural gas. The revenues for the corresponding quarter of last year stood at Rs 7,770.23 crore, the company said.
The company’s net profit, however, slipped 4.4 per cent to Rs 563 crore due to a slight decline in volumes processed and higher expenditure. Sequentially, the company’s net profit declined 4.1 per cent while revenue from operations increased by 17.2 per cent. Petronet LNG’s total expenditure for the reporting quarter rose 42.3 per cent on year to Rs 9,990 crore.
The rise in expenditure was led by a 43.8 per cent increase in cost of raw material–primarily LNG — to Rs 9,695 crore. Petronet LNG processed a total of 217 trillion British thermal units in the September quarter, a tad lower than 220 trillion British thermal units it processed in the corresponding quarter a year ago.
Of the total LNG volumes processed by the company in Jul-Sep, 211 trillion British thermal units were processed at its flagship terminal at Dahej in Gujarat. The 15- mtpa Dahej terminal operated at 110 per cent of its capacity in Jul-Sep against, same as the year-ago quarter, Petronet LNG Managing Director and Chief Executive Officer Prabhat Singh said. The company’s 5- mtpa terminal at Kochi in Kerala operated at just 10 per cent of its capacity due to lack of pipeline connectivity to transport gas to consumers.
