Lower trading margins in Q1 was one-off thing: Petronet LNG

Petronet LNG Ltd, the country's largest importer of liquid gas expects demand to remain robust in coming quarters. However, the quarter gone by was a tough one as the state-run firm reported around 17 percent year-on-year decline in profit on lower trading margins. Sales, however, rose 20 per cent Y-o-Y to Rs. 8,444 crore.

Analysts blame weak demand for a fall in trading margins during the quarter which forced PLNG to charge significantly lower trading margins to enable higher off-take. Read This: Petronet LNG standalone Jun '13 sales at Rs 8,444.20 crore
However, in an interview to CNBC-TV18, PLNG’s managing director and CEO, AK Balyan said, “ Fall in trading margins was a one-off things and demand remains robust gong forward.” He further said that the firm is operating at 102 percent utilisation level.
Meanwhile, during the quarter gone by PLNG’s  LNG import and regasification terminal processed 129.5 trillion British thermal units of gas, a marginal hike Y-o-Y.
Balyan also said the company's second terminal at Kochi  will be commissioned by August-end