Petronet LNG Ltd. reported revenue of ₹7,202 cr for July to September 2026, −34.6% on the year and +29.6% on the quarter. That is slower than this quarter has grown in recent years (−5.8% on average). Over the last four quarters revenue comes to ₹33,366 cr, −29.7% on the four before.
The full Petronet LNG Q2 FY27 results page carries every quarter on the same rules, the checks that ran and the ones that need the filing read: Petronet LNG Q2 FY27 results, read forensically.
Petronet LNG Q2 FY27: the numbers
| Sep '26 | Previous quarter | A year ago | On the year | |
|---|---|---|---|---|
| Revenue | ₹7,202 cr | ₹5,558 cr | ₹11,009 cr | −34.6% |
| EBITDA | ₹1,662 cr | ₹1,535 cr | ₹1,117 cr | +48.8% |
| EBITDA margin | 23.1% | 27.6% | 10.1% | +1,293 bps |
| Net profit | ₹1,256 cr | ₹1,137 cr | ₹830 cr | +51.3% |
| EPS | ₹8.38 | ₹7.58 | ₹5.54 | +51.3% |
Consolidated figures in ₹ crore, as filed with the exchanges.
What the numbers say
Operating profit (EBITDA) was ₹1,662 cr, a margin of 23.1%, +1,293 bps on the year and −455 bps on the quarter. Over the last 8 quarters the margin has ranged from 9.8% to 27.6%, averaging 15.4%. Operating costs grew −44.0% against revenue growth of −34.6%, so more of each rupee of sales reached operating profit.
Net profit was ₹1,256 cr, +51.3% on the year and +10.5% on the quarter, with earnings per share of ₹8.38. Profit before other income, one-offs and tax grew faster, at +68.7%; other income, one-offs or tax held the headline back. The tax rate of 26% is in line with its recent average. Profit over the last four quarters totals ₹4,635 cr, +26.3% on the four before.
Of the 6 companies in Oil, gas and energy that have reported Q2 FY27 so far, Petronet LNG Ltd. ranks 6th on revenue growth; the sector median is +28.6%. Its margin moved +1,293 bps on the year against a sector median of −328 bps.
Refining and marketing profits swing with crude and product margins, and inventory gains or losses can move a single quarter sharply.
On earnings per share of ₹30.90 over the last four quarters, the stock at ₹293.05 trades at 9.5 times trailing earnings.
Where the profit change came from
Net profit went from ₹830 cr in Sep '25 to ₹1,256 cr in Sep '26. Taking each line in turn: Business (EBITDA) added ₹545 cr, depreciation added ₹24.0 cr, finance cost added ₹11.2 cr, other income took away ₹0.7 cr and tax took away ₹147 cr.
Segments
| Segment | Revenue | YoY | Result | YoY |
|---|---|---|---|---|
| Natural Gas Business | ₹7,202 cr | −34.6% | ₹1,658 cr | +53.7% |
Questions the numbers raise
- The auditor drew attention to a matter in the limited review report. Read it before the numbers. “We draw attention to Note 3 to the Statement regarding the recoverability of Use or Pay ("UoP") dues as at 30th September 2026, included in trade receivables amounting to Rs.…”
Each is a question with its numbers, not a finding of wrongdoing. The results page shows the source for each one.
How it compares with Oil, gas and energy this season
| Company | Revenue growth | Margin change | Profit growth |
|---|---|---|---|
| Bharat Petroleum Corporation Ltd. | +42.1% | −328 bps | −21.5% |
| Adani Total Gas Ltd. | +34.1% | −345 bps | +3.1% |
| Reliance Industries Ltd. | +28.6% | −71 bps | +33.8% |
| Castrol India Ltd. | +27.3% | −860 bps | −22.8% |
| Aegis Logistics Ltd. | −3.5% | +693 bps | +31.1% |
| Petronet LNG Ltd. | −34.6% | +1,293 bps | +51.3% |
What to watch next
For a company in Oil, gas and energy, the numbers to watch are refining margins, throughput and inventory gains or losses.
The next quarter, Q3 FY27, has to be filed by 14 Feb 2027. The same checks will run on it, and the results page will compare it with this one.
All of Petronet LNG's quarters, the checks and the profit bridge →
The Petronet LNG terminal: financials, valuation history and forensic checks →
Frequently asked questions
What were Petronet LNG Ltd. Q2 FY27 results?
Petronet LNG Ltd. reported revenue of ₹7,202 cr (−34.6% on the year) and net profit of ₹1,256 cr (+51.3% on the year) for July to September 2026.
Was Petronet LNG Ltd. profit growth driven by the core business?
Profit before other income, exceptional items and tax moved +68.7% on the year, against +51.3% for reported profit.
Are there any red flags in Petronet LNG Ltd. Q2 FY27 results?
1 check raised a question: The auditor drew attention to a matter in the limited review report. Read it before the numbers.
Is this a recommendation?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by published rules. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security.
Leave a Reply