Petronet LNG reports Q2 FY '26 results amid expansion progress

Petronet LNG reported a net profit of INR805.75 crores for Q2 FY '26, a 5% year-on-year decrease attributed to lower LNG volumes. Revenue from operations stood at INR11,009 crores, down 15% year-on-year, with EBITDA at INR1,117 crores, reflecting a margin of approximately 10%. The company declared an interim dividend of INR7 per share.

The Kochi terminal achieved its highest-ever capacity utilization at 27%, while the Dahej terminal processed 211 TBTU. The Dahej terminal’s 5 MMTPA capacity expansion is on track for completion by March 2026. The petrochemical expansion project is progressing "in full steam," with all major long-lead item packages awarded and civil work commenced.

Total capex for FY '26 is projected around INR5,000 crores, with the major portion allocated to petchem. As of November 2025, approximately INR450 crores has been spent on the 5 MMTPA expansion. The company remains optimistic about increased LNG utilization due to anticipated supply glut and affordability, aiming for 10-11% natural gas share in India's energy basket.