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Petronet LNG reports lower Q1 profits, revenue

Petronet LNG Ltd. on Aug. 7 reported an after-tax profit of 5.6 billion Indian rupees for the first quarter ended June 30, down from the 5.87 billion rupees reported during the quarter a year ago.

Total revenue came in at 87.18 billion rupees, also dropping from the 92.68 billion rupees reported a year prior.

Total expenses were pegged at 78.8 billion rupees, down from the 83.67 billion rupees noted during the corresponding quarter a year ago.

The company also said it expanded the nameplate capacity of its Dahej LNG Terminal from 15 million tonnes per annum to 17.5 million tonnes per annum with an additional capitalization of 3.99 billion rupees on June 25.

Petronet LNG engages in the import, regasification and supply of LNG in India.

As of Aug. 6, US$1 was equivalent to 71.04 Indian rupees.