Latest news with #PetronetLNGLtd
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Business Standard
5 days ago
- Business
- Business Standard
Petronet Q1 net profit falls 25%; to invest ₹6,355 cr in new LNG terminal
Petronet LNG Ltd, India's largest gas importer, on Friday reported a 25 per cent drop in its June quarter net profit, and said it will invest ₹6,355 crore in setting up a new import facility at Odisha. Net profit of ₹850.58 crore in April-June was lower than ₹1,141.58 crore last year, mainly because of lower volumes imported due to a fall in power demand on early arrival of monsoon. The firm's Dahej liquefied natural gas (LNG) import terminal in Gujarat imported 207 trillion BTUs (British thermal unit) as compared to 248 TBtus in April-June 2024, its chief executive, A K Singh, told reporters on an earnings call. Overall, the company processed 220 TBTUs in April-June - the first quarter of the current 2025-26 fiscal - as opposed to 262 TBTUs last year. "LNG throughput in Q1 is lower than corresponding quarter mainly because there was a severe power requirement (in April-June 2024) which necessitated substantial LNG imports," he said, adding this year early and severe monsoon rains lower demand for electricity, and hence reduced demand for LNG (which is used to generate power). There were also shutdowns of fertiliser plants in the quarter, he said. He said the Dahej terminal operated at 92 per cent capacity in Q1 as compared to best ever utilisation of 110 per cent in the same period last year. On the demand outlook, he said city gas volumes have picked up and so is the demand by the petrochemical sector. In the second quarter (July-September), the Dahej is back to near 100 per cent capacity operation, he said. Singh said the company board has also accorded in-principle additional investment approval for setting up of a 5 million tonnes a year land-based LNG terminal at Gopalpur. This is in place of earlier approval of 4 million-tonne Floating Storage and Regasification Unit (FSRU) based LNG terminal for an incremental project cost of ₹4,048.80 crore. The overall approved value of the project is ₹6,354.80 crore (including taxes and duties), he said, adding it would take three years to construct the facility. Besides Dahej, Petronet also has a 5 million tonnes a year import terminal at Kochi in Kerala, but it operates at less than a quarter of its capacity because of a lack of pipelines to take imported fuel to customers. While the capital expenditure has increased - from ₹2,300 crore for a floated import unit (called FSRU) to ₹6,354.80 crore land-based fixed terminal, the operating expenses (opex) have substantially reduced to ₹450-500 crore, he said. The decision to shift to a land-based terminal was also taken because of the tight market for FSRUs in view of European countries using them to import gas in place of the volumes they used to receive from Russia.
Economic Times
6 days ago
- Business
- Economic Times
Petronet Q1 Results: Net profit falls 25%, to invest Rs 6,355 crore in new LNG terminal
Petronet LNG Ltd, India's largest gas importer, on Friday reported a 25 per cent drop in its June quarter net profit, and said it will invest Rs 6,355 crore in setting up a new import facility at Odisha. ADVERTISEMENT Net profit of Rs 850.58 crore in April-June was lower than Rs 1,141.58 crore last year, mainly because of lower volumes imported due to a fall in power demand on early arrival of monsoon. The firm's Dahej liquefied natural gas (LNG) import terminal in Gujarat imported 207 trillion BTUs (British thermal unit) as compared to 248 TBtus in April-June 2024, its chief executive, A K Singh, told reporters on an earnings call. Overall, the company processed 220 TBTUs in April-June - the first quarter of the current 2025-26 fiscal - as opposed to 262 TBTUs last year. "LNG throughput in Q1 is lower than corresponding quarter mainly because there was a severe power requirement (in April-June 2024) which necessitated substantial LNG imports," he said, adding this year early and severe monsoon rains lower demand for electricity, and hence reduced demand for LNG (which is used to generate power). There were also shutdowns of fertiliser plants in the quarter, he said. ADVERTISEMENT He said the Dahej terminal operated at 92 per cent capacity in Q1 as compared to best ever utilisation of 110 per cent in the same period last year. On the demand outlook, he said city gas volumes have picked up and so is the demand by the petrochemical sector. ADVERTISEMENT In the second quarter (July-September), the Dahej is back to near 100 per cent capacity operation, he said. Singh said the company board has also accorded in-principle additional investment approval for setting up of a 5 million tonnes a year land-based LNG terminal at Gopalpur. This is in place of earlier approval of 4 million-tonne Floating Storage and Regasification Unit (FSRU) based LNG terminal for an incremental project cost of Rs 4,048.80 crore. ADVERTISEMENT The overall approved value of the project is Rs 6,354.80 crore (including taxes and duties), he said, adding it would take three years to construct the facility. Besides Dahej, Petronet also has a 5 million tonnes a year import terminal at Kochi in Kerala, but it operates at less than a quarter of its capacity because of a lack of pipelines to take imported fuel to customers. ADVERTISEMENT While the capital expenditure has increased - from Rs 2,300 crore for a floated import unit (called FSRU) to Rs 6,354.80 crore land-based fixed terminal, the operating expenses (opex) have substantially reduced to Rs 450-500 crore, he said. The decision to shift to a land-based terminal was also taken because of the tight market for FSRUs in view of European countries using them to import gas in place of the volumes they used to receive from Russia. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
6 days ago
- Business
- Time of India
Petronet Q1 Results: Net profit falls 25%, to invest Rs 6,355 crore in new LNG terminal
Petronet LNG Ltd, India's largest gas importer, on Friday reported a 25 per cent drop in its June quarter net profit, and said it will invest Rs 6,355 crore in setting up a new import facility at Odisha. Net profit of Rs 850.58 crore in April-June was lower than Rs 1,141.58 crore last year, mainly because of lower volumes imported due to a fall in power demand on early arrival of monsoon. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Technology Management others Degree Healthcare Data Science Artificial Intelligence CXO Digital Marketing MCA healthcare Others Data Analytics Leadership Product Management Data Science Design Thinking Project Management Operations Management Finance Cybersecurity PGDM MBA Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details The firm's Dahej liquefied natural gas (LNG) import terminal in Gujarat imported 207 trillion BTUs (British thermal unit) as compared to 248 TBtus in April-June 2024, its chief executive, A K Singh, told reporters on an earnings call. Overall, the company processed 220 TBTUs in April-June - the first quarter of the current 2025-26 fiscal - as opposed to 262 TBTUs last year. "LNG throughput in Q1 is lower than corresponding quarter mainly because there was a severe power requirement (in April-June 2024) which necessitated substantial LNG imports," he said, adding this year early and severe monsoon rains lower demand for electricity, and hence reduced demand for LNG (which is used to generate power). Live Events There were also shutdowns of fertiliser plants in the quarter, he said. He said the Dahej terminal operated at 92 per cent capacity in Q1 as compared to best ever utilisation of 110 per cent in the same period last year. On the demand outlook, he said city gas volumes have picked up and so is the demand by the petrochemical sector. In the second quarter (July-September), the Dahej is back to near 100 per cent capacity operation, he said. Singh said the company board has also accorded in-principle additional investment approval for setting up of a 5 million tonnes a year land-based LNG terminal at Gopalpur. This is in place of earlier approval of 4 million-tonne Floating Storage and Regasification Unit (FSRU) based LNG terminal for an incremental project cost of Rs 4,048.80 crore. The overall approved value of the project is Rs 6,354.80 crore (including taxes and duties), he said, adding it would take three years to construct the facility. Besides Dahej, Petronet also has a 5 million tonnes a year import terminal at Kochi in Kerala, but it operates at less than a quarter of its capacity because of a lack of pipelines to take imported fuel to customers. While the capital expenditure has increased - from Rs 2,300 crore for a floated import unit (called FSRU) to Rs 6,354.80 crore land-based fixed terminal, the operating expenses (opex) have substantially reduced to Rs 450-500 crore, he said. The decision to shift to a land-based terminal was also taken because of the tight market for FSRUs in view of European countries using them to import gas in place of the volumes they used to receive from Russia.
Time of India
10-07-2025
- Business
- Time of India
Deepak Fertilisers inks pact with Petronet LNG for regasification
Synopsis Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has forged a five-year agreement with Petronet LNG Ltd for regasification of Liquefied Natural Gas (LNG). Petronet LNG will regasify around 25 TBTUs of LNG annually, mainly at its Dahej terminal.
Business Standard
09-07-2025
- Business
- Business Standard
Volumes spurt at Neuland Laboratories Ltd counter
Neuland Laboratories Ltd registered volume of 4783 shares by 10:46 IST on BSE, a 3.09 fold spurt over two-week average daily volume of 1548 shares Petronet LNG Ltd, Sterling & Wilson Renewable Energy Ltd, Dr Lal Pathlabs Ltd, HFCL Ltd are among the other stocks to see a surge in volumes on BSE today, 09 July 2025. Neuland Laboratories Ltd registered volume of 4783 shares by 10:46 IST on BSE, a 3.09 fold spurt over two-week average daily volume of 1548 shares. The stock rose 2.47% to Rs.11,962.55. Volumes stood at 1249 shares in the last session. Petronet LNG Ltd registered volume of 8.3 lakh shares by 10:46 IST on BSE, a 2.62 fold spurt over two-week average daily volume of 3.17 lakh shares. The stock rose 0.25% to Rs.305.80. Volumes stood at 47163 shares in the last session. Sterling & Wilson Renewable Energy Ltd notched up volume of 3.47 lakh shares by 10:46 IST on BSE, a 2.33 fold spurt over two-week average daily volume of 1.49 lakh shares. The stock rose 4.86% to Rs.320.30. Volumes stood at 99122 shares in the last session. Dr Lal Pathlabs Ltd recorded volume of 13671 shares by 10:46 IST on BSE, a 2.13 times surge over two-week average daily volume of 6422 shares. The stock gained 3.85% to Rs.2,991.30. Volumes stood at 4213 shares in the last session. HFCL Ltd witnessed volume of 8.83 lakh shares by 10:46 IST on BSE, a 2 times surge over two-week average daily volume of 4.41 lakh shares. The stock increased 0.23% to Rs.83.28. Volumes stood at 6.44 lakh shares in the last session.
