- Petronet LNG's Q1 net profit fell 17% to Rs 1,137 crore sequentially
- Revenue declined 41% to Rs 5,558 crore due to Strait of Hormuz disruptions
- EBITDA dropped 17.5% to Rs 1,535 crore compared to the previous quarter
Petronet LNG Ltd.'s June-quarter performance was weighed down by disruptions linked to the Strait of Hormuz, with revenue declining 41% sequentially even as profitability margins expanded.
The company's net profit fell 17% to Rs 1,137 crore in Q1 from Rs 1,371 crore in the previous quarter, while revenue declined 41% to Rs 5,558 crore from Rs 9,442 crore QoQ.
EBITDA stood at Rs 1,535 crore, down 17.5% from Rs 1,861 crore in the previous quarter. However, EBITDA margin expanded sharply to 27.6% from 19.7% QoQ.
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The sharp sequential decline in topline comes amid disruptions around the Strait of Hormuz, which affected LNG flows and weighed on Petronet LNG's revenue during the quarter.
Despite the revenue pressure, the expansion in EBITDA margin provides some cushion to the bottom line, even as net profit remained lower sequentially.
Petronet LNG Q1 Result Highlights (Cons, QoQ)
- Net Profit down 17% at Rs 1,137 crore versus Rs 1,371 crore.
- Revenue down 41% at Rs 5,558 crore versus Rs 9,442 crore.
- EBITDA down 17.5% at Rs 1,535 crore versus Rs 1,861 crore.
- EBITDA Margin at 27.6% versus 19.7%, up 790 bps.
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