India’s Petronet LNG logs higher quarterly profit, volumes

India’s largest LNG importer Petronet LNG, the operator of the Dahej and Kochi regasification terminals, reported higher quarterly profit and volumes.

During the January-March quarter, the 22.5 mtpa Dahej LNG terminal processed 201 TBtu of LNG, a rise compared to 189 TBtu in the same quarter in 2025.

Dahej volumes dropped compared to 213 TBtu in the previous quarter.

According to Petronet, the overall LNG volume processed by the company in the current quarter was 219 TBtu, compared to 205 TBtu and 233 TBtu in the corresponding and previous quarters respectively.

Despite the ongoing crisis in the Middle East, the capacity utilization at Dahej terminal was recorded at 90.1 percent in the current quarter, as against 85.2 percent in the corresponding quarter and 93.8 percent in the previous quarter, Petronet said.

During fiscal 2025-26, Dahej terminal processed LNG volume of 833 TBtu, down compared to 876 TBTU during the previous financial year.

The overall LNG volume was 901 TBtu in the fiscal year, down compared to 934 TBtu processed in the previous year.

Petronet issued a force majeure notice on March 3 to its offtakers, including its shareholder GAIL, after it received a notice from state-owned LNG giant QatarEnergy, which stopped production at its giant Ras Laffan LNG plant due to attacks.

QatarEnergy said that it expects the damage to its Ras Laffan complex caused by missile strikes to cost about $20 billion a year in lost revenue and to take up to five years to repair, impacting supply to markets in Europe and Asia.

In March, the Indian government invoked emergency measures, prioritizing gas allocation to essential sectors amid the disruption of LNG shipments through the Strait of Hormuz.

Profit

Petronet said its profit after tax or PAT reached 13.38 billion rupees ($140.4 million) in the quarter under review, a rise compared to 10.70 billion rupees in the corresponding quarter and compared to 8.48 billion rupees in the previous quarter.

The company said its profit before tax or PBT reached 17.95 billion rupees ($188.3 million) in the quarter under review.

This compares to 14.46 billion rupees in the corresponding quarter and 11.44 billion rupees in the previous quarter.

Petronet said these are the highest-ever quarterly PBT and PAT.

The company reported PBT and PAT of 51.58 billion rupees and 38.43 billion rupees, respectively, in the current financial year, as against the PBT and PAT of 52.75 billion rupees and 39.26 billion rupees, respectively, in the previous financial year.

“The robust financial performance of the current financial year was achieved due to efficiency in operations,” Petronet said.

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