Petronet LNG has achieved it highest quarterly profit according to the firm’s latest fiscal report.
The firm has attributed an increase in volumes, better margins and higher operational efficiency as reasons for the hike.
Quarterly Net Profit up 98.5% to Rs. 260.33 crores and Turnover up by 75.5% to Rs. 5366.87 crores.
During the quarter ended 30th September 2011, the company has operated at 106% of its capacity (nameplate capacity of the Dahej Terminal is 10 MMTPA). Total regasified volume rose to 135.08 TBTUs against 99.78 TBTUs in the corresponding quarter last year. With the increase in volume, turnover of the company was also recorded to rise sharply to Rs. 5366.87 crores, an increase of over 75.5% over the corresponding quarter last year.
Similarly, net profit for the LNG specialist also increased to Rs. 260.33 crores, a substantial increase of over 98% from the corresponding quarter last year.
According to a press statement released earlier today, Petronet LNG attributes increase in net profit on account of, “additional volumes with better margins alongside higher operational efficiency.”