PETRONET · Oil Gas & Consumable Fuels
Petronet LNG Ltd. reported revenue of ₹12,227 cr for October to December 2024, −17.1% on the year and −6.1% on the quarter.
Operating profit (EBITDA) was ₹1,247 cr, a margin of 10.2%, −136 bps on the year and +97 bps on the quarter. Over the last 7 quarters the margin has ranged from 8.0% to 11.6%, averaging 10.1%. Operating costs grew −15.8%, faster than revenue at −17.1%, so operating profit grew less than sales.
Net profit was ₹902 cr, −25.6% on the year and +3.6% on the quarter, with earnings per share of ₹6.01. Profit before other income, one-offs and tax fell 32.4%, so 7 points of the headline growth came from outside the core business. The tax rate of 26% is in line with its recent average.
Refining and marketing profits swing with crude and product margins, and inventory gains or losses can move a single quarter sharply. The quarterly statements do not carry refining margins, throughput and inventory gains or losses; those come with the filing read.
On earnings per share of ₹24.28 over the last four quarters, the stock at ₹293.05 trades at 12.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹14,747 cr | ₹13,793 cr | ₹13,415 cr | ₹13,024 cr | ₹12,227 cr | ₹12,316 cr | ₹11,880 cr | ₹11,009 cr | ₹11,164 cr | ₹9,442 cr | ₹5,558 cr | ₹7,202 cr |
| YoY | — | — | +15% | +4% | −17% | −11% | −11% | −15% | −9% | −23% | −53% | −35% |
| EBITDA margin | 11.6% | 8.0% | 11.6% | 9.2% | 10.2% | 12.3% | 9.8% | 10.1% | 10.7% | 19.7% | 27.6% | 23.1% |
| Other income, % of PBT | 10% | 16% | 12% | 18% | 17% | 14% | 20% | 22% | 19% | 11% | 14% | 14% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 25% | 26% | 26% |
| Net profit | ₹1,213 cr | ₹764 cr | ₹1,105 cr | ₹871 cr | ₹902 cr | ₹1,095 cr | ₹842 cr | ₹830 cr | ₹870 cr | ₹1,371 cr | ₹1,137 cr | ₹1,256 cr |
| YoY | — | — | +35% | +2% | −26% | +43% | −24% | −5% | −4% | +25% | +35% | +51% |
| Core profit YoY | — | — | +42% | −1% | −32% | +49% | −31% | −10% | −5% | +28% | +44% | +69% |
| EPS | ₹8.09 | ₹5.10 | ₹7.37 | ₹5.80 | ₹6.01 | ₹7.30 | ₹5.61 | ₹5.54 | ₹5.80 | ₹9.14 | ₹7.58 | ₹8.38 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Petronet LNG Ltd. reported revenue of ₹12,227 cr (−17.1% on the year) and net profit of ₹902 cr (−25.6% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved −32.4% on the year, against −25.6% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.