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Petronet LNG revenue down 52% on West Asia supply hit
Petronet LNG's standalone revenue fell 52.3% year-on-year to ₹5,788 crore in the June quarter, the company said on Tuesday. The drop came as West Asia tensions disrupted supplies, hitting India's top gas…
The Story in Brief
Petronet LNG's standalone revenue fell 52.3% year-on-year to ₹5,788 crore in the June quarter, the company said on Tuesday. The drop came as West Asia tensions disrupted supplies, hitting India's top gas importer. Before the crisis, Qatar accounted for about 47% of India's LNG imports.
Net profit, however, rose 33.2% to ₹1,132 crore in the same period, aided by lower costs. The Hindu reports the figures from the company's financial results.
The Indian Opinion
Petronet's revenue slide masks a profit jump, so don't read it as a disaster. The real test is whether gas supply contracts with Qatar get renegotiated or rerouted in coming quarters. Watch if the company's import volumes recover to pre-crisis levels by year-end. If not, India's energy security needs a sharper answer than blaming geopolitics.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
