Dahej project utilisation at 113%, happy to be part of it: Petronet LNG

Petronet LNG posted numbers broadly in-line with street expectations. In an interview with CNBC-TV18’s Anshu Sharma, Prabhat Singh, MD & CEO of the company explained what drove their earnings this quarter.

We are fortunate there is demand in the country and people are pushing for the volumes. Last quarter we had done better. This quarter it is around 10 percent lower but still, it is a good number for us. On an overall basis, this is a good quarter, he said.

In terms of profit after tax (PAT), last year we have done around 33 percent higher and 47 percent higher in profit before tax (PBT), he added.

Dahej project utilisation is at 113 percent, for Kochi it is 12 percent. On an average, it is around 88 percent capacity utilisation. We are happy to be part of Dahej project, said Singh.

Speaking of new businesses, he said that new business is expected in Sri Lanka with a Japanese partner. The project equity for the company will be at 47.75 percent.

According to him, the initial investment will be approximately USD 300 million for this project.

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