Petronet LNG (PETRONET) Q1 26/27 earnings summary

Executive summary

• Achieved 33% year-over-year growth in standalone profit before tax (PBT) and profit after tax (PAT), with consolidated PBT and PAT at record highs for any first quarter.

• Revenue from operations for the quarter ended 30 June 2026 was ₹5,557.84 crore (consolidated), showing a significant decline from ₹9,442.09 crore in the previous quarter, mainly due to force majeure events impacting LNG supply and vessel operations.

• Profit after tax (consolidated) stood at ₹1,108.27 crore, down from ₹1,337.59 crore in the previous quarter and ₹824.44 crore in the same quarter last year.

• Financial performance remained strong despite lower LNG volumes and market disruptions, driven by commercial and operational efficiencies.

• The quarter was marked by continued force majeure due to Middle East conflict, leading to suspension of LNG cargo loading and vessel operations, with only one stranded cargo delivered during the period.

Financial highlights

• Standalone PBT: INR 1,514 crore, up 33% year-over-year; PAT: INR 1,133 crore, up 33% year-over-year.

• Consolidated PBT: INR 1,491 crore; consolidated PAT: INR 1,137 crore, both highest ever for Q1.

• Total consolidated income for the quarter was ₹5,765.37 crore, compared to ₹9,642.30 crore in the previous quarter and ₹12,096.46 crore in the same quarter last year.

• Consolidated EBITDA (approximated as profit before tax plus depreciation and amortisation) was ₹1,692.07 crore for the quarter.

• Regasification revenue for the quarter: INR 1,214 crore.

Outlook and guidance

• Capacity utilization expected to improve once Strait of Hormuz reopens and Qatari volumes resume.

• Current trends in volume mix and margin may persist if market conditions remain unchanged.

• Contract renewals with off-takers expected to close within the next two to three quarters.

• Management remains confident in the recovery of outstanding Use or Pay (UoP) dues based on contractual arrangements and recovery mechanisms agreed with customers.

• The company is actively implementing recovery mechanisms for UoP dues for CY 2023 and CY 2024, with bank guarantees received from most customers.