Petronet LNG Ltd would commission the 5-million-tonne a year terminal in Kochi by end of January, said A.K. Balyan, Managing Director and Chief Executive Officer.
Petronet on Friday reported net profit of Rs 314.79 crore for the second quarter of the current financial year against Rs 260.34 crore in the same period previous year.
Total income increased to Rs 7,573.39 crore during July-September 2012 against Rs 5386.99 crore in the corresponding months last year, according to information on theBSE.
The increase in net profit is due to higher re-gasification charges, high trading margins and operational efficiencies, Balyan told media persons.
Petronet’s 10 million tonnes a year terminal at Dahej plant was operating at 106 per cent capacity, he added.
Currently, Petronet has debt of Rs 3,200 crore. “We have reduced our debt to equity ratio of 0.8:1,” Balyan said.
Petronet is seeing spot cargo prices moving downwards. “It has significantly softened as compared to last year. Now, it has come down to $10-11 per mBtu from earlier $11-15 per mBtu,” he added.