Petronet LNG Limited on July 24 reported a 34 percent year-on-year increase in consolidated net profit at Rs 1,100.76 crore in the first quarter of financial year 2024-25.
Consolidated net profit of the gas distributor stood at Rs 819.28 crore in the same period a year ago. Sequentially, net profit was up by almost 50 percent from Rs 734.07 crore recorded in the quarter ended March 31, 2023.
Revenue from operations came in at Rs 13,415.13 crore in Q1, an increase from Rs 11,656.38 crore in the year-ago period.
In Q1, the company’s Dahej terminal processed 248 TBTU (trillion British thermal unit) of LNG, compared to 219 TBTU during the previous quarter and 219 TBTU in Q1FY24, said Petronet LNG in a press release.
The Dahej terminal witnessed a capacity utilization of 109 percent in the current quarter, as against 97 percent in the previous quarter and 96 percent in the corresponding quarter.
The overall LNG volume processed by the company in the current quarter was 262 TBTU, as against the LNG volume processed in the previous and corresponding quarters, which stood at 234 TBTU and 230 TBTU, respectively.
The company was able to achieve higher throughput and robust financial results owing to stable LNG prices, better capacity utilization of its terminals and efficiency in its operations, the company said.
At 2:22 pm, shares of PLNG were trading at Rs 343.80 apiece on the BSE, up 3.07 percent from previous close.
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