Petronet LNG’s Net Profit Raises 55 Per Cent in June 2016 Quarter

On Monday, Petronet LNG Ltd posted around 55% jump in its standalone net profit at Rs 377.86 crore in 30th June, 2016. The company had reported a net revenue of Rs 244.12 crore in June 2015.

Company’s shares were trading 1.97% increase at Rs 360.15 at 10.32 am. The scrip opened at Rs 361 and touched a high and low of Rs 366.30 and Rs 360, respectively. Also Sensex was trading 278.27 points increase at 28,810.38 during the same time.

Petronet LNG Net profit raises 55 per cent
Petronet LNG Net profit raises 55 per cent

Though, total income during the period under review cut down to Rs 5,386.66 crore as against Rs 8,411.61 crore in 2015. Petronet LNG has set up India’s first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal available at Kochi, Kerala.

The BSE group ‘A’ stock of face value R 10 touched a 52-week-high of Rs 366.30 on 6th September, 2016 and a 52-week-low of Rs 169.35 on 28th September, 2015.

The Dahej terminal has a minimal capacity of 10 MMTPA (equal to 40 MMSCMD of natural gas), while the Kochi terminal has a capacity of 5 MMTPA (equal to 20 MMSCMD of natural gas). Petronet LNG is in the process to develop the third terminal at Gangavaram, Andhra Pradesh.

Formed as a Joint Venture by the Government of India to introduce LNG and set up LNG terminals in India and it includes India’s leading oil and natural gas industry players. Its sponsors are GAIL (India) Ltd, Oil & Natural Gas Corporation Ltd, Indian Oil and Bharat Petroleum.

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