Page 2 - Petronet Lng

Petronet LNG profit up 9%, to invest Rs 20,685 cr in petrochem plant

The terminal's utilisation level, which was 80 per cent in FY23, has remained consistently above 90 per cent in FY24 so far

Petronet LNG Q2 results: Net profit rises 9%, will invest Rs 20,685 crore

Petronet LNG Ltd, India's largest liquefied natural gas importer, on Monday reported a 9 per cent rise in the September quarter consolidated net profit as margins rose. It posted a consolidated net profit of Rs 855.74 crore, or Rs 5.70 per share, in July-September compared with Rs 785.73 crore, or Rs 5.24 a share, earning in the same period a year ago, according to a company's stock exchange filing. Revenue was down 21.6 per cent at Rs 12,532.57 crore on lower gas prices. Margin rose to 9.7 per cent in the second quarter of the current fiscal. Petronet said its board of directors approved an investment of Rs 20,685 crore for setting up a petrochemical plant at Dahej in Gujarat. The petrochemical plant, which will come up adjacent to India's largest LNG import facility operated by the company, will consist of a 750,000 tonnes per annum propane dehydrogenation plant (PDH) and 500,000 tonnes a year of poly-propylene plant. "The project would bring revenue generation from the sale of

Great Eastern Shipping to Petronet LNG: 10 value bets for rich payoffs

Krishna Kant & Ram Prasad Sahu suggest stocks of non-BFSI firms with the right blend of low valuation, positive cash flow, good earnings visibility

Petronet eyes lower prices under renewed long-term deal with Qatar

Petronet is "seriously engaged" with Qatar to extend its long-term deal to beyond 2028, Singh said, adding that Petronet has until the end of the year to complete negotiations for an extension

Petronet LNG Q1FY24 results: Net profit at Rs 789 cr YoY; revenue down 18%

The total income for Q1FY24 came in at Rs 11,802.79 crore, compared to Rs 14,405.58 crore YoY

Petronet LNG dips 5% on disappointing Q4 results; net profit falls 18% YoY

The company's profit after tax (PAT) declined 18 per cent YoY (down 48 per cent QoQ) to Rs 614.3 crore. Revenue increased 24.3 per cent YoY (down 12 per cent QoQ) to Rs 13,873.9 crore

Q4 results: Petronet LNG profit slips 18% to Rs 614 cr, revenue up 24.3%

Company recorded highest ever turnover of Rs 59,899 Cr in FY23, up 39%

India mulls building LNG reserve to avoid future price hike or shortages

The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis

Petronet seeks additional LNG of 0.75 to 1 mn tonnes from Qatar, says CEO

India's top gas importer Petronet LNG is seeking additional Liquified Natural Gas (LNG) of 0.75 to one million tonnes per annum (mtpa) from Qatar, the company's Chief Executive A.K. Singh said

Petronet LNG books highest ever quarterly profit of Rs 1,181 crore in Q3

The company argued it was able to achieve robust financial results due to cooling global LNG prices, and operational optimization cutting power and fuel costs

'India's gas imports to rise on easing global prices', says Petronet LNG

India's gas imports in October and November declined by about a fifth to about 1.8 million tonnes from this fiscal year's peak of 2.2 million tonnes in May

Petronet LNG Q2 results: Net profit down 10%, but turnover highest

The company is currently expanding capacity by 9 million tonnes at its LNG terminals in Dahej, and Kochi

Petronet Q2 net profit falls 4% to Rs 785 cr as natural gas volumes drop

Petronet LNG Ltd on Thursday reported a 4 per cent fall in its September quarter net profit as volumes dropped on a spurt in global natural gas prices. Consolidated net profit stood at Rs 785.73 crore in July-September as against Rs 817.61 crore a year back, according to a company's stock exchange filing. Petronet chief executive officer Akshay Kumar Singh during a conference call said global energy rates spurred after the Ukraine war, but rates have begun to soften in the last 10-15 days. The rise in spot or current market liquefied natural gas (LNG) prices led to volume drop as users couldn't afford higher rates. Petronet is India's largest LNG importer and the gas it imports is supplied to fertilizer plants and other industries for use. Its flagship Dahej terminal in Gujarat processed 182 trillion British thermal units (TBTUs) of LNG during July-September as against 196 TBTU during the previous quarter ended June 30 and 225 TBTU during the corresponding quarter ended September

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

Petronet LNG Ltd to invest Rs 40,000 cr in 5 yrs to expand import infra

Petronet LNG Ltd, India's biggest gas importer, will invest Rs 40,000 crore in the next five years for expanding import infrastructure as well as foraying into new business to boost profitability to Rs 10,000 crore. Petronet, which operates two liquefied natural gas (LNG) import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm's latest annual report. The company has formulated a '1-5-10-40' strategy for exponential growth and diversification. "The company aims at achieving an annual turnover of Rs 1 lakh crore over next five years and annual profit after tax of Rs 10,000 crore with investments of Rs 40,000 crore," it said. It had a net profit or profit after tax of Rs 3,352 crore on a turnover of Rs 43,169 crore in fiscal 2021-22 (April 2021 to March 2022). LNG is natural gas that has been cooled down to liquid form for ease of transporting in ships. At the import terminal, LNG is regassified into its ..

MGL, Gujarat Gas: Analysts see some silver lining for downstream gas stocks

Analysts have lowered their earnings estimates, but have 'buy' recommendations for several stocks

Petronet touches 3000 LNG ship handling at Dahej terminal, to up capacity

Petronet said is undertaking a highly cost-effective expansion of its regasification capacity of the Dahej LNG Terminal, from 17.5 to 22.5 million tonnes per annum

Petronet in talks with Qatar for LNG deal renewal amid turbulent markets

NEW DELHI (Reuters) - India's Petronet LNG has begun talks with Qatar to renew a multi-year gas deal despite market "turbulence", making new long-term contracts difficult as sanctions on Russian fuel have squeezed an already tightly supplied market.

Stocks to Watch: CoForge, MRPL, Petronet, JSW Ispat, PNB, Birla Corp, PSBs

Stocks to Watch Today: Aditya Birla Capital, Apollo Tyres, GSPL, HCC, L&T, RBL Bank, Siemens and Tata Motors ahead of Q4 earnings; Prudent Corporate Advisory Services IPO to close on Thursday.

Gas stocks in focus: Trading strategies for Gujarat Gas, MGL, Adani Total

The outlook for Natural gas stocks looks good. However, these stocks need to cross and sustain above the key levels for renewed buying interest.