(LiveMint)
Petronet LNG Ltd, the nation’s biggest importer of liquefied natural gas, on Monday reported its highest quarterly net profit in three-months ending 31 March on processing higher volumes of gas.Petronet posted a net profit of Rs522.76 crore in January-March, 11% higher than Rs470.71 crore in the same quarter a year ago, company CEO and managing director Prabhat Singh told reporters in New Delhi. The record quarterly profit “is due to higher volumes processed and better efficiencies in operations,” he said.
The company processed 18% higher imported gas at 213 trillion British thermal unit (TBtus) in the fourth quarter of 2017-18 fiscal. It’s mainstay Dahej import terminal in Gujarat processed 17% higher gas at 207 TBtus, he said.Sales were up 34% at Rs8,739.63 crore. For the full fiscal, the company clocked 21% higher net profit of Rs2,078 crore – the highest ever. The firm processed 16% higher gas at its Dahej and Kochi import terminal in Kerala at 848 TBtus. Singh said the company board recommended a dividend of Rs4.5 per share (45%), entailing a payout of Rs813.78 crore including dividend distribution tax.
