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Informist, Monday, May 19, 2025

--Petronet LNG Jan-Mar net profit INR 10.70 bln 

--Analysts saw Petronet LNG Jan-Mar net profit INR 7.90 bln 

--Petronet LNG Jan-Mar net profit INR 10.70 bln vs INR 7.38 bln year ago

--Petronet LNG Jan-Mar revenue INR 123.16 bln vs INR 137.93 bln year ago

--Petronet LNG to pay INR 3 per share final dividend for FY25

--Petronet LNG FY25 net profit INR 39.26 bln vs INR 35.36 bln year ago 

-- Petronet LNG FY25 revenue INR 509.80 bln vs INR 527.28 bln year ago 

By Shreya Shetty

MUMBAI - Petronet LNG Ltd. reported a higher-than-expected net profit for the quarter-ended March despite a fall in revenue. While the profit rose on higher margins as prices of spot liquefied natural gas increased a whopping 49% on year, revenues fell due to low sales volumes.

The company's net profit rose more than 45% on year to INR 10.70 billion, beating the Street's estimates of INR 7.90 billion. The bottom line saw a growth again, having contracted on year for the first time in the December quarter since the March quarter of 2022-23 (Apr-Mar).

The company's consolidated revenue fell nearly 11% on year to INR 123.16 billion. Analysts had estimated the company to report a revenue of INR 120.84 billion. Sequentially, the company's net profit rose just over 23% while revenues grew barely a percent.

Other income earned by the company during the latest quarter was nearly INR 2 billion, up 27% on year.

Total expenditure for the March quarter was INR 110.70 billion, down nearly 15% on year. Cost of materials consumed, which account for nearly 98% of Petronet LNG's overall expenses, fell nearly 13% on year to INR 108.32 billion. Its earnings are sensitive to input costs, mainly of natural gas. Other expenses incurred during the period fell nearly 6% on year to INR 1.58 billion. Its finance costs for the March quarter fell a sharper 14% on year to INR 608.50 million. 

The company also accounted for a gain made towards impairment loss, net of reversal, of INR 2.3 billion. This is part of the proceedings from its recovery mechanism for the 'use or pay' dues amounting to INR 14.22 billion for FY23, FY24, and FY25.

The bottom line for 2024-25 (Apr-Mar) rose more than 11% to INR 39.26 billion while the top line fell more than 3% to INR 509.80 billion.

The company will pay a final dividend of INR 3 per equity share for FY25. On Monday, shares of Petronet LNG closed 0.1% higher at INR 320.8 on the National Stock Exchange, before the company announced its earnings.  End

Edited by Vandana Hingorani

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