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Petronet LNG Q2 FY27 results: net profit up 51.3% to ₹1,256 crore, revenue down 34.6%
Petronet LNG Limited reported consolidated Q2 FY27 revenue of ₹7,202 crore, down 34.6% from Q2 FY26, while EBITDA rose 48.8% to ₹1,662 crore and net profit increased 51.3% to ₹1,256 crore. EBITDA margin expanded to 23.1% from 10.1%, and basic EPS was ₹8.38; standalone revenue was ₹7,200.35 crore and profit before tax was ₹805.75 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹7,202 crore, down 34.6% from ₹11,009 crore in Q2 FY26.
- EBITDA rose to ₹1,662 crore from ₹1,117 crore, while EBITDA margin widened to 23.1% from 10.1%.
- Net profit was ₹1,256 crore, up 51.3% from ₹830.30 crore, and basic EPS was ₹8.38.
- Against Q1 FY27, revenue rose 29.6% to ₹7,202 crore and net profit rose 10.5% to ₹1,256 crore, while EBITDA margin fell to 23.1% from 27.6%.
- In H1 FY27, consolidated revenue was ₹12,760.06 crore and net profit was ₹2,393.57 crore, compared with ₹22,888.99 crore and ₹1,672.18 crore respectively in H1 FY26.
How did Petronet LNG perform in Q2 FY27?
Petronet LNG reported consolidated revenue of ₹7,202 crore for Q2 FY27, down 34.6% from ₹11,009 crore in Q2 FY26. Total income was ₹7,435.23 crore, down 33.9% from ₹11,242.84 crore. Against Q1 FY27, revenue rose 29.6% from ₹5,558 crore and total income rose 29.0% from ₹5,765.37 crore.
Consolidated EBITDA was ₹1,662 crore, up 48.8% from ₹1,117 crore in Q2 FY26, and EBITDA margin expanded to 23.1% from 10.1%. Profit before tax rose 53.7% to ₹1,658 crore, while net profit increased 51.3% to ₹1,256 crore from ₹830.30 crore; basic EPS was ₹8.38, compared with ₹5.53.
Against Q1 FY27, EBITDA rose 8.2% to ₹1,662 crore from ₹1,535 crore, but the margin fell to 23.1% from 27.6%. Profit before tax rose 11.2% to ₹1,658 crore, net profit increased 10.5% to ₹1,256 crore from ₹1,137 crore, and basic EPS was ₹8.38 against ₹7.58. On a standalone basis, Q2 FY27 revenue was ₹7,200.35 crore and profit before tax was ₹805.75 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 7,202 | 5,558 | 11,009 | −34.6% | +29.6% |
| Other income | 233.01 | 207.53 | 233.71 | −0.3% | +12.3% |
| Total expenses | 5,777 | 4,275 | 10,164 | −43.2% | +35.1% |
| EBITDA | 1,662 | 1,535 | 1,117 | +48.8% | +8.2% |
| EBITDA margin | 23.1% | 27.6% | 10.1% | +13.0 pp | −4.5 pp |
| Profit before tax | 1,658 | 1,491 | 1,079 | +53.7% | +11.2% |
| Tax | 423.61 | 382.57 | 276.77 | +53.1% | +10.7% |
| Net profit | 1,256 | 1,137 | 830.30 | +51.3% | +10.5% |
| EPS (₹) | 8.38 | 7.58 | 5.53 | +51.5% | +10.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Petronet LNG's costs and profit?
Consolidated total expenses fell to ₹5,777 crore in Q2 FY27 from ₹10,164 crore in Q2 FY26, down 43.2%. Cost of materials was the largest reduction, down ₹4,304 crore to ₹5,146 crore from ₹9,449 crore. Finance costs fell ₹11.24 crore to ₹49.70 crore, depreciation fell ₹24.03 crore to ₹186.76 crore, and other expenses fell ₹51.58 crore to ₹331.06 crore.
Employee cost rose ₹3.53 crore to ₹63.96 crore from ₹60.43 crore, while other income was nearly unchanged at ₹233.01 crore, down ₹0.70 crore from ₹233.71 crore. There was no exceptional item. Tax expense increased ₹146.84 crore to ₹423.61 crore from ₹276.77 crore, against higher profit before tax.
Compared with Q1 FY27, total expenses increased ₹1,502 crore to ₹5,777 crore, with cost of materials up ₹1,446 crore to ₹5,146 crore and other expenses up ₹75.22 crore to ₹331.06 crore. Other income rose ₹25.48 crore to ₹233.01 crore, finance costs fell ₹0.95 crore, depreciation fell ₹14.47 crore, and employee cost fell ₹3.56 crore. Tax was ₹423.61 crore, up ₹41.04 crore, and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 5,146 | 9,449 | −4,304 | −45.5% |
| Employee cost | 63.96 | 60.43 | +3.53 | +5.8% |
| Finance costs | 49.70 | 60.94 | −11.24 | −18.4% |
| Depreciation | 186.76 | 210.79 | −24.03 | −11.4% |
| Other expenses | 331.06 | 382.64 | −51.58 | −13.5% |
| Total expenses | 5,777 | 10,164 | −4,387 | −43.2% |
| Other income | 233.01 | 233.71 | −0.70 | −0.3% |
| Tax | 423.61 | 276.77 | +146.84 | +53.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹12,760.06 crore, down 44.3% from ₹22,888.99 crore in H1 FY26, while total income was ₹13,200.6 crore, down 43.4% from ₹23,339.3 crore. Profit before tax rose 43.9% to ₹3,149.08 crore from ₹2,188.51 crore.
Net profit for H1 FY27 was ₹2,393.57 crore, up 43.1% from ₹1,672.18 crore in H1 FY26. Basic EPS increased 43.1% to ₹15.96 from ₹11.15.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 12,760 | 22,889 | −44.3% |
| Profit before tax | 3,149 | 2,189 | +43.9% |
| Net profit | 2,394 | 1,672 | +43.1% |
| EPS (₹) | 15.96 | 11.15 | +43.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹30,135.99 crore, compared with ₹27,440.00 crore at 31 March 2026, while total equity was ₹24,228.41 crore against ₹22,284.82 crore. Borrowings remained nil. Cash rose to ₹2,239.15 crore from ₹1,859.29 crore.
Inventories increased to ₹1,253.45 crore from ₹907.20 crore, trade receivables fell to ₹790.64 crore from ₹1,039.41 crore, and trade payables rose to ₹1,075.88 crore from ₹734.98 crore. H1 FY27 operating cash flow was ₹2,983.52 crore, compared with ₹1,813.44 crore in H1 FY26.
Investing cash flow for H1 FY27 was negative ₹2,112.54 crore, compared with negative ₹534.29 crore in H1 FY26, while financing cash flow was negative ₹491.12 crore against negative ₹804.31 crore. Capital expenditure was ₹1,688.56 crore, up from ₹533.24 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 30,136 | 27,440 |
| Total equity | 24,228 | 22,285 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 2,239 | 1,859 |
| Inventories | 1,253 | 907.20 |
| Trade receivables | 790.64 | 1,039 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 2,984 | 1,813 |
| Cash from investing | −2,113 | −534.29 |
| Cash from financing | −491.12 | −804.31 |
| Capital expenditure | 1,689 | 533.24 |
Source: Company's results filing (XBRL).
How has Petronet LNG done over the last 8 quarters?
Revenue declined from ₹12,315.75 crore in Q4 FY25 to ₹9,442.09 crore in Q4 FY26 and ₹5,557.84 crore in Q1 FY27, before recovering to ₹7,202.22 crore in Q2 FY27. The highest revenue in the reported series was ₹12,315.75 crore in Q4 FY25, while the lowest was ₹5,557.84 crore in Q1 FY27.
Net profit rose from ₹830.30 crore in Q2 FY26 to ₹869.61 crore in Q3 FY26 and ₹1,370.74 crore in Q4 FY26, then eased to ₹1,137.14 crore in Q1 FY27 before increasing to ₹1,256.43 crore in Q2 FY27. EBITDA margin peaked at 27.6% in Q1 FY27, compared with 19.7% in Q4 FY26, and fell to 23.1% in Q2 FY27.
Profit rose year on year in each of the last three quarters. Revenue is now higher than in Q1 FY27, and net profit has also increased, while the EBITDA margin has moved lower from the previous quarter.
What else did the company announce?
The Board approved the consolidated and standalone unaudited financial results for the quarter and half-year ended 30 September 2026 and declared an interim dividend of ₹7 per share on equity shares of face value ₹10 each for FY 2026-27. The company stated that the dividend warrants would be posted within 30 days from the date of declaration, subject to tax deduction at source.
A same-day filing set 6 November 2026 as the record date for the ₹7.00 per share interim dividend. The board filing stated that the record date and payment or despatch date would be intimated in due course; the company also reported no outstanding default on loans and debt securities and that the public-issue proceeds deviation statement was not applicable.
What did the auditors point out?
The independent auditors’ limited review report stated that nothing had come to their attention causing them to believe that the standalone unaudited results had failed to disclose information required under Regulation 33 or contained any material misstatement. They also said the review was substantially less in scope than an audit and that they did not express an audit opinion.
The auditors drew attention to recoverability of Use or Pay dues included in trade receivables amounting to Rs. 408.23 crore gross and Rs. 177.51 crore net after a provision of Rs. 230.72 crore. They noted that management was confident of recovery based on contractual arrangements and recovery mechanisms agreed with customers, and said their conclusion was not modified in respect of this matter.
The auditors also drew attention to claims of Rs. 625.42 crore plus applicable taxes relating to the suspension of operations of dedicated LNG vessels and associated costs. The company had not recognised a provision because it assessed the claims as not tenable under the relevant Time Charter Agreements; vessel owners had initiated arbitration, whose outcome and financial impact could not presently be determined.
How did Petronet LNG shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock fell 1.4% after 5 minutes, 1.3% after 15 minutes and 1.7% after 30 minutes. It closed 1.0% above the previous close on the reaction day, and by the next day's close it was up 3.1% from that pre-results close.
The industry's median move was negative 0.2% on the reaction day and 2.9% by the next day's close. Petronet LNG's corresponding excess moves were 1.2 percentage points and 0.2 percentage points. Past results-day moves were mixed, including 1.4% on 4 May 2026, negative 2.3% on 12 February 2026 and negative 6.5% on 27 January 2025.
| After the filing | Stock | LPG/CNG/PNG/LNG Supplier median |
|---|---|---|
| 5 minutes | −1.4% | |
| 15 minutes | −1.3% | |
| 30 minutes | −1.7% | |
| Reaction day | +1.0% | −0.2% |
| Next day | +3.1% | +2.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 August 2026 | −0.0% |
| 4 May 2026 | +1.4% |
| 12 February 2026 | −2.3% |
| 7 November 2025 | −0.4% |
| 25 July 2025 | −0.4% |
| 19 May 2025 | −1.7% |
| 27 January 2025 | −6.5% |
| 24 October 2024 | −0.3% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Petronet LNG's revenue in Q2 FY27?
Revenue from operations was ₹7,202 crore, down 34.6% from ₹11,009 crore in Q2 FY26 (consolidated).
Did Petronet LNG make a profit in Q2 FY27?
Yes. Net profit was ₹1,256 crore, against a net profit of ₹830.30 crore in Q2 FY26.
What was Petronet LNG's EPS in Q2 FY27?
Basic earnings per share were ₹8.38, against ₹5.53 in Q2 FY26.
How did Petronet LNG shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.0% from the previous close; the median LPG/CNG/PNG/LNG Supplier stock moved −0.2%.
When did Petronet LNG announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Notice Of Board Meeting To Consider And Approve Unaudited Financial Results For The Quarter And Half-Year Ended 30Th September 2026 (BSE, 14 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results For The Quarter And Half-Year Ended 30.09.2026 Interim Dividend FY 2026-27 (BSE, 2 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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