Petronet LNG Q1 FY27 PAT Grows 33% to ₹1,133 Crore Despite Lower Volumes
Petronet LNG reported a 33% year-on-year growth in standalone PAT to ₹1,133 crore for Q1 FY27, despite lower volumes. This was driven by ₹301 crore in trading gains and ₹193 crore in inventory gains. The company's Dahej terminal processed 192 TBTU, with capacity utilization at 66% on an expanded base. Capex for FY27 is budgeted at ₹9,064 crore.
Significant profit growth, record financial performance, and strategic initiatives like the petrochemical project suggest a material positive impact on the company's financial health and future prospects.
The company reported strong year-on-year growth in profits, highest ever first-quarter PBT and PAT, and positive outlook on resolving supply issues, despite lower volumes processed.
Petronet LNG Limited reported a strong financial performance for the first quarter of FY27, with standalone Profit Before Tax (PBT) at ₹1,514 crore, a 33% increase year-on-year, and Profit After Tax (PAT) also rising by 33% to ₹1,133 crore. On a consolidated basis, PBT was ₹1,491 crore and PAT was ₹1,137 crore, marking the highest ever first-quarter PBT and PAT for the company.
Despite lower LNG volumes processed, with Dahej terminal handling 192 TBTU and the company processing 207 TBTU, the financial results were supported by commercial and operational efficiencies. The capacity utilization figures reflect an expanded base, with Dahej's utilization at 66% and overall company utilization at 58% on the new nameplate capacity.
The improvement in financial performance was significantly driven by trading gains of ₹301 crore and inventory gains of ₹193 crore. Management indicated that this trend of higher margins can sustain if there is a significant disparity between long-term and spot prices, which has historically been a part of the company's business model.
Looking ahead, the company expects the situation at the Gulf to resolve soon, allowing for the resumption of volumes from its long-term contract with Qatar. The company is also progressing on its petrochemical project, which is on schedule, with physical progress at 40%. Capex budgeted for FY27 is ₹9,064 crore, with similar numbers projected for FY28. Discussions with offtakers for contract renewal are ongoing and expected to conclude in the next 2-3 quarters.
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