Petronet LNG Ltd, India’s leading importer of liquefied natural gas (LNG), reported a 4% increase in its net profit for the second quarter of FY2024-25, driven by higher capacity utilization at its flagship Dahej terminal in Gujarat. The company posted a net profit of Rs 848 crore for July-September, up from Rs 818 crore in the same period last year, though lower than the record Rs 1,142 crore in the previous quarter.
CEO and Managing Director AK Singh announced that throughput at the Dahej terminal rose by 7% year-on-year, processing 225 trillion British thermal units (TBTU) of LNG this quarter, compared to 210 TBTU in the previous year and 248 TBTU in the first quarter of this fiscal. The total LNG volume processed by Petronet was 239 TBTU, up from 223 TBTU a year ago.
For the first half of the fiscal year, the Dahej terminal achieved record processing of 473 TBTU of LNG, while the company’s overall volume reached an all-time high of 501 TBTU, up from 453 TBTU last year. Reflecting the strong financial performance, the Board approved an interim dividend of Rs 7 per share. Singh credited operational efficiency and high utilization rates for these robust results.
