Business & Finance

Petronet LNG Posts 53.2% Rise in Net Profit, Seeks Delivery of Pending Qatar Cargoes

By Saptaparno Ghosh

State‑owned Petronet LNG reported a 53.2% increase in net profit for the September‑end quarter, driven by improved operational efficiency, despite ongoing disruptions to cargoes from its main supplier, Qatar, due to renewed conflict in West Asia. The company announced a dividend of ₹7 per equity share. Net profit for the quarter was ₹1,235 crore, up from ₹806 crore in the same period last year. Revenue from operations fell about 35% to ₹7,200.35 crore. Petronet processed 231 trillion British Thermal Units (TBTU) in the quarter, slightly higher than the 228 TBTU processed in the same period last year. Overall capacity utilisation dropped to 64% from 78% in the prior year, while utilisation at the Dahej terminal fell to 73% from 92%. Chairman and Managing Director Akshay Kumar Singh said the company is in talks with QatarEnergy to secure delivery of cargoes that could not be delivered because of force majeure. He added that the supplier has declared force majeure until December‑end and that contractual terms allow recouping lost cargoes for one year after the current contract expires in May 2028. Singh noted that Petronet has lost an average of 9‑10 cargoes each month over the last eight months, totaling about 75‑80 cargoes, while it has received only six from the supplier. Published – November 03, 2026 05:43 am IST