Petronet Posts Highest Quarterly Net Profit of ₹1,070.18 Crore in Q4

The company received Rs 360.94 crore in use or pay (UoP) charges from offtakers

- OUR CORRESPONDENT

NEW DELHI: Petronet LNG Ltd, India's biggest gas importer, on Monday reported its highest-ever quarterly profit during January-March after gas offtakers paid for volumes they had defaulted on previously.

Net profit of Rs 1,070.18 crore in January-March - the fourth quarter of April 2024 to March 2025 fiscal - was 23.4 per cent higher than Rs 737.68 crore earning a year back, according to a company's stock exchange filing.

The company received Rs 360.94 crore in use or pay charges from offtakers for the volumes that they had committed to bring at the import terminals but did not bring since 2021.

With domestic production of natural gas - used to generate electricity, produce fertilizer and turned into CNG to run automobiles and used in kitchens for cooking - barely meeting half of the country's demand, the fuel is imported as LNG. LNG is natural gas that has been cooled to about minus 162 degrees Celsius to turn it into a liquid. This reduces its volume by about 600 times, making it much easier and more cost-effective to store and transport by ships.

Petronet processed 205 trillion British thermal unit in Q4, down from 234 TBtus a year back and 228 TBtus in the preceding quarter, company CEO and Managing Director A K Singh told reporters in an earnings call.