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Petronet LNG has reported a ₹528.79-crore net profit for the third quarter of financial year 2017-2018. This is 33 per cent higher than the ₹397.47-crore bottom line reported in the corresponding period of the last financial year.
A company statement said that the Dahej terminal processed the highest-ever quantity of 215 trillion British thermal units (TBTU) of liquefied natural gas and operated at 113 per cent of its name plate capacity. The terminal reported a hike of 15 per cent growth in throughput compared to the corresponding period of the last fiscal. The company’s Kochi terminal processed 8 TBTU of LNG.
Commenting on the expansion plans in Sri Lanka, Managing Director and Chief Executive Officer, Prabhat Singh, said: “Instead of the initial 1 million tonne capacity, we will now set up a 2.6-2.7 million tonne LNG terminal in Sri Lanka.”
Singh said that the terminal will require a provision $300 million for the revised capacity.
In September last year, Sri Lanka decided to go-ahead with the setting up of an LNG terminal near Colombo with Indian and Japanese companies. A company statement had said that the LNG terminal will be set up on the western coast of Sri Lanka in close vicinity of Colombo where most of the power projects (operating mainly on costly liquid fuel) are located.
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