New Delhi, Petronet LNG Ltd - India's largest liquefied natural gas importer - on Wednesday reported 20 per cent rise in March quarter net profit due to higher volume of LNG imports.
For the full 2023-24 financial year (April 2023 to March 2024), Petronet has reported the highest-ever net profit of Rs 3,536 crore with 22 per cent growth in volume throughput.
Petronet MD and CEO Aksh Kumar Singh told reporters that net profit in the March quarter was Rs 738 crore, compared with Rs 614 crore in the same period last year.
However, the profit was lower than Rs 1,191 crore earned in the previous quarter.
During the current quarter ended March 31, Petronet's mainstay Dahej Terminal in Gujarat processed 219 trillion British thermal units (TBTU) of LNG, compared to 218 TBTU during the previous quarter ending December 31, 2023 and the same in the previous fiscal. 172 TBTU were processed during the quarter.
The total volume of LNG processed by the company during the January-March period was an all-time high at 234 TBTU, while the LNG volume processed in the previous and corresponding quarter was 232 TBTU and 185 TBTU respectively.
During the financial year ending March 31, 2024, the Dahej terminal processed 86 TBTU of LNG, compared to 704 TBTU processed during the previous financial year ending March 31, 2023.
The total quantity of LNG processed by the company in the current financial year was 919 TBTU, while the quantity processed in the previous financial year was 752 TBTU.
"The company was able to achieve strong financial results by riding on stable LN prices and achieving efficiency and optimization in its operations," Singh said.
In view of the strong performance, the board of directors of the company has approved a final dividend of Rs 3 per share.
For the full 2023-24 financial year (April 2023 to March 2024), Petronet has reported the highest-ever net profit of Rs 3,536 crore with 22 per cent growth in volume throughput.
Petronet MD and CEO Aksh Kumar Singh told reporters that net profit in the March quarter was Rs 738 crore, compared with Rs 614 crore in the same period last year.
However, the profit was lower than Rs 1,191 crore earned in the previous quarter.
During the current quarter ended March 31, Petronet's mainstay Dahej Terminal in Gujarat processed 219 trillion British thermal units (TBTU) of LNG, compared to 218 TBTU during the previous quarter ending December 31, 2023 and the same in the previous fiscal. 172 TBTU were processed during the quarter.
The total volume of LNG processed by the company during the January-March period was an all-time high at 234 TBTU, while the LNG volume processed in the previous and corresponding quarter was 232 TBTU and 185 TBTU respectively.
During the financial year ending March 31, 2024, the Dahej terminal processed 86 TBTU of LNG, compared to 704 TBTU processed during the previous financial year ending March 31, 2023.
The total quantity of LNG processed by the company in the current financial year was 919 TBTU, while the quantity processed in the previous financial year was 752 TBTU.
"The company was able to achieve strong financial results by riding on stable LN prices and achieving efficiency and optimization in its operations," Singh said.
In view of the strong performance, the board of directors of the company has approved a final dividend of Rs 3 per share.
