Petronet LNG Ltd — earnings calls

Petronet LNG reported standalone PBT of INR 1,514 crores and PAT of INR 1,133 crores for Q1 FY27, both up 33% year-on-year, despite lower LNG volumes processed at Dahej and company-wide due to the Strait of Hormuz situation affecting Qatar cargo supply. Management attributed the margin improvement to trading gains of INR 301 crores and inventory gains of INR 193 crores, with tolling and third-party volumes compensating for reduced long-term contract volumes. The company also gave updates on capacity utilization at Dahej and Kochi, the petrochemical project progress, capex plans, and ongoing contract discussions with offtakers.

Petronet LNG reported its highest ever quarterly PBT and PAT for Q4 FY26 at Rs 1,795 crore and Rs 1,338 crore respectively, while Dahej terminal utilization fell to around 53% in March due to the Gulf region crisis affecting Qatar supplies. Management said utilization has since remained near the March level into April and May, with new volumes from Exxon and Equinor contracts, third-party cargoes, and lower spot LNG prices partly offsetting the shortfall. The Board recommended a final dividend of Rs 3 per share for FY26, and management outlined a proposed capex of around Rs 9,000 crore for FY27, largely for the petrochemical project.