Business · Companies · 5 hrs ago
Petronet LNG profit rises as it seeks delayed Qatar cargoes
India's Petronet LNG reported quarterly net profit of ₹1,235 crore, compared with ₹806 crore in the same quarter last year.
The company attributed the increase to improved operational efficiency, even as revenue fell about 35% to ₹7,200.35 crore.
QatarEnergy has not delivered some contracted gas cargoes because of conflict in West Asia and has declared force majeure until the end of December.
Petronet says it lost about 75 to 80 cargoes over the past eight months and received six from Qatar.
The company is negotiating for delivery of the pending cargoes, and says its contract allows it to recoup them for a year after the current agreement ends in May 2028.
Lower use of its terminals could matter for India's gas supply, with overall capacity utilisation at 64%, down from 78% a year earlier.
Petronet also declared a dividend of ₹7 per share; its profit growth is given as 53.2% in the text, while the headline says 52.3%.
Petronet LNG reported a net profit of ₹1,235 crore for the quarter ended September, up from ₹806 crore a year earlier.
The Hindu’s headline gives profit growth as 52.3%, while its article text says 53.2%.
The company said improved operational efficiency drove the increase, even as deliveries from Qatar were affected by conflict in West Asia.
Petronet LNG is in talks with QatarEnergy about delivering cargoes that were not supplied.
The company declared a dividend of ₹7 per equity share.
- Who
- Petronet LNG, India’s largest LNG importer, and its supplier QatarEnergy.
- What
- Petronet LNG reported higher quarterly net profit and said it was discussing delivery of undelivered Qatar cargoes.
- When
- The results were for the quarter ended in September. The articles were published on November 2 and 3, 2026.
- Where
- India; the company’s Dahej terminal was also mentioned.
- Why
- Improved operational efficiency contributed to higher profit. Cargo deliveries from Qatar were affected by the conflict in West Asia.
This story does not have two clearly opposing sides.
Petronet LNG said it lost an average of 9–10 cargoes per month, about 75–80 cargoes in total, and received six from Qatar.
Petronet LNG reported net profit of ₹1,235 crore, compared with ₹806 crore in the same period a year earlier.
The company said it was in talks with QatarEnergy about delivering pending cargoes.
QatarEnergy’s force majeure was declared to remain in effect.
Petronet LNG said its contract allows it to recoup lost cargoes for one year after the current contract period expires.
- Net profit
- ₹1,235 crore, compared with ₹806 crore a year earlier
- Revenue from operations
- ₹7,200.35 crore, down about 35%
- LNG processed
- 231 TBTU, compared with 228 TBTU a year earlier
- Overall capacity utilisation
- 64%, compared with 78% a year earlier
- Cargoes lost
- About 75–80 over the last eight months; six cargoes received
- Dividend
- ₹7 per equity share
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What people are saying
On the sidelines, we also discuss if they would be able to give more cargoes before the contractual date. If there is a requirement in the country, we will take that as well.