Petronet LNG (PETRONET) Q2 25/26 earnings summary

Executive summary

• Net profit for Q2 FY26 was INR 805.75 crore, down 5% year-on-year, with an interim dividend of Rs. 7 per share declared.

• Revenue from operations for Q2 FY26 stood at INR 11,009 crore, a 15% year-on-year decline.

• Unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2025 were approved and released.

• The Board meeting for these results was held on 7 November 2025.

Financial highlights

• Standalone and consolidated revenue for Q2 FY26 was Rs. 11,009.13 crore; half-year revenue was Rs. 22,888.99 crore.

• Standalone net profit for Q2 FY26 was Rs. 805.75 crore; consolidated net profit was Rs. 830.30 crore.

• EBITDA reached INR 1,117 crore with a margin of around 10%.

• Regasification revenue for the quarter was INR 754 crore.

• Inventory gain for the quarter was INR 41 crore; no trading gain reported.

Outlook and guidance

• Dahej terminal expansion of 5 MMTPA expected to be commissioned by March 2026.

• CapEx guidance for FY26 is around INR 5,000 crore, with major spend in H2, subject to timely EC clearance for Gopalpur.

• Kochi-Bangalore pipeline expected to be connected within the financial year, which should improve Kochi utilization.

• Management remains confident in the recoverability of trade receivables, including 'Use or Pay' dues, supported by contractual obligations and bank guarantees.

• Expectation of increased LNG supply globally by 2027-28, potentially lowering spot prices and boosting terminal utilization.