Petronet LNG's net profit rises by 55%

Petronet LNG reported net profit of Rs 377.86 crore for the June quarter ended 2016(Q1FY17), registering robust growth of 54.78% year-on-year (yoy) and 55.49% quarter-on-quarter (qoq). 

Noticeably, the company's total income from operations was weak. It total income of Rs 5337.31 crore, declined by 36.28% yoy and 12% qoq. 

The bottom-line was boosted by strong EBITDA (earnings before interest tax depriciation and amortization) and margins. 

The operating porfit (EBITDA) stood at Rs 642.48 crore, increasing by 80.51% yoy and 40.25% qoq. While its operating profit margin was at 12.03%, expanding by 779 basis points (bps) yoy and 449 bps qoq. 

The Q1FY17 is reported as per the Indian Accounting Standards (Ind-As). 

In this quarter, the Petronet LNG has build the country's first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala.

From which Dahej terminal has a nominal capacity of 10 MMTPA (equivalent to 40 MMSCMD of natural gas), the Kochi terminal has a capacity of 5 MMTPA (equivalent to 20 MMSCMD of natural gas).

Further, Petronet LNG is in the process to build the third terminal at Gangavaram, Andhra Pradesh, a PTI report. 

Shares of Petronet LNG closed at Rs 353.20, up by 1.23%.