<p>Petronet LNG Ltd, the nation's largest liquid gas importer, reported a better than expected profitability in the June quarter as its operations had a modest impact of lockdown because of a quick recovery in later part of the quarter.</p>.<p>The standalone net profit at Rs 520.23 crore, or Rs 3.47 per share, was 7.1 per cent lower than Rs 560.27 crore, or Rs 3.74 a share, net profit in the same period a year back, the company said in a regulatory filing.</p>.<p>Revenue fell 43 per cent to Rs 4951.9 crore in the first quarter of the current 2020-21 fiscal.</p>.<p>Following the March 25 nationwide lockdown, Indian LNG imports fell in April as user industries were temporarily shut.</p>.<p>Average gas send-out from Petronet's 17.5 million tonne a year Dahej LNG import terminal fell to less than 60 per cent of the capacity in April, down from over 88 per cent in the previous month.</p>.<p>Post first week of June when the lockdown was relaxed, the demand for gas saw a gradual recovery and since then the Dahej terminal is operating at its full capacity of 17.5 million tonne per annum (63 million standard cubic meters per day).</p>.<p>Before COVID-19, average send-out during January-February was around 58 mmscmd (92 per cent of the capacity) at the Dahej terminal and 3.57 mmscmd (20 per cent) at 5 million tonne a year at the Kochi terminal in Kerala.</p>.<p>Commenting on the earnings, ICICI Securities said, "despite 55-60 per cent utilisation in Dahej in April, Petronet managed 83 per cent utilisation in Q1 suggesting a quick recovery through the rest of Q1."</p>.<p>Analysts were expecting the standalone net profit to come in at around Rs 490 crore.</p>
<p>Petronet LNG Ltd, the nation's largest liquid gas importer, reported a better than expected profitability in the June quarter as its operations had a modest impact of lockdown because of a quick recovery in later part of the quarter.</p>.<p>The standalone net profit at Rs 520.23 crore, or Rs 3.47 per share, was 7.1 per cent lower than Rs 560.27 crore, or Rs 3.74 a share, net profit in the same period a year back, the company said in a regulatory filing.</p>.<p>Revenue fell 43 per cent to Rs 4951.9 crore in the first quarter of the current 2020-21 fiscal.</p>.<p>Following the March 25 nationwide lockdown, Indian LNG imports fell in April as user industries were temporarily shut.</p>.<p>Average gas send-out from Petronet's 17.5 million tonne a year Dahej LNG import terminal fell to less than 60 per cent of the capacity in April, down from over 88 per cent in the previous month.</p>.<p>Post first week of June when the lockdown was relaxed, the demand for gas saw a gradual recovery and since then the Dahej terminal is operating at its full capacity of 17.5 million tonne per annum (63 million standard cubic meters per day).</p>.<p>Before COVID-19, average send-out during January-February was around 58 mmscmd (92 per cent of the capacity) at the Dahej terminal and 3.57 mmscmd (20 per cent) at 5 million tonne a year at the Kochi terminal in Kerala.</p>.<p>Commenting on the earnings, ICICI Securities said, "despite 55-60 per cent utilisation in Dahej in April, Petronet managed 83 per cent utilisation in Q1 suggesting a quick recovery through the rest of Q1."</p>.<p>Analysts were expecting the standalone net profit to come in at around Rs 490 crore.</p>