Petronet LNG expects 15 spot cargoes in FY12

Petronet LNG has posted a 53% jump in net profits to Rs 620 crore for the 2010-11 fiscal compared to a year ago period as the company operated at full capacity in processing imported gas.

Its sales went up 24% from year ago level to Rs 13,197 crore during the period as it regassified 440 trillion British thermal units (Btu) against 400 trillion Btu in the previous year.
In the quarter ended March 31, 2011, the company recorded a 113 % rise in net profits to Rs 206 crore even as turnover went up by 67% to Rs 3,986 crore.
Speaking to CNBC-TV18, A Balyan, CEO and MD of Petronet LNGo said the topline growth was mainly on account of higher volumes.