Petronet LNG’s PAT rises 29% to `790 cr in Q1

During the current quarter ended June 30, 2023, Dahej terminal processed 217 TBTU of LNG as against 172 TBTU during the previous quarter ended March 31, 2023 and 196 TBTU during the corresponding quarter ended June 30, 2022, witnessing growth of 26 per cent and 11 per cent respectively.

The Dahej terminal witnessed a capacity utilisation of 96 per cent in the current quarter, as against 76 per cent in the previous quarter and 87 per cent in the corresponding quarter.

The overall LNG volume processed by the Company in the current quarter was 230 TBTU, as against the LNG volume processed in the previous and corresponding quarters, which stood at 185 TBTU and 208 TBTU, reporting growth of 24 per cent and 11 per cent respectively.

The Company has reported PBT of Rs 1,062 crore in the current quarter, as against Rs 818 crore in the previous quarter and Rs 937 crore in the corresponding quarter, registering growth of 30 per cent and 13 per cent respectively.

The PAT of the current quarter is reported at Rs 790 crore as against the PAT of the previous and corresponding quarters of Rs 614 crore and Rs 701 crore respectively, reporting a growth of 29 per cent and 13 per cent respectively. The PBT and PAT of the current quarter are the highest ever reported by the company in the first quarter of any of the previous financial years.

The Company was able to achieve higher throughput and robust financial results due to better capacity utilization of its terminals and efficiency in its operations.