Petronet's Q4 consolidated net profit up 45% at ₹1,067.58 crore
New Delhi: Petronet LNG's profit jumped nearly by half in the quarter ended March, driven by 'efficiency in operations and higher capacity utilization'.
The company reported a 45.4% year-on-year rise in its consolidated net profit for the quarter to ₹ 1,067.58 crore, according to its exchange filing. Its profit after tax stood at ₹ 734.07 crore a year earlier.
The company's total income for the period under review was ₹ 12,513.15 crore, 10.28% lower than ₹ 13,946.80 crore earned in fourth quarter of FY24. Its profit rose despite the decline in revenue because of lower expenses.
The joint venture of GAIL Ltd, Bharat Petroleum Corp. Ltd, Indian Oil Corp. Ltd and ONGC reported a 14.5% year-on-year fall in its expenses at ₹ 11,070.04 crore. The expenditure on the 'cost of materials consumed', largely liquefied natural gas (LNG) in this case, fell to ₹ 10,831.61 crore in the March quarter compared with ₹ 12,438.47 crore a year earlier.
During the current quarter, some offtakers or gas buyers paid outstanding dues worth ₹ 360.94 crore pertaining to 2021, which added to Petronet's income and profits.
Dahej terminal processed 189 trillion British thermal units (tbtu) of LNG during the quarter against 219 tbtu a year earlier and 213 tbtu in the previous quarter. The overall LNG volume processed by the company in January-March stood at 205 tbtu versus 234 tbtu during the same quarter of the previous fiscal.
For the financial year 2024-25 (FY25), Petronet LNG's net profit increased 10.11% to ₹ 3,883.92 crore against ₹ 3,527.02 crore in the previous fiscal.
In the last fiscal, the Dahej terminal processed LNG volume of 876 tbtu as against 865 tbtu in FY24. Its overall LNG volume rose to the highest ever at 934 tbtu in FY25 against 919 tbtu processed in the previous financial year.
'Considering the robust performance, the Board of Directors of the company has recommended a final dividend of ₹ 3 per share,' the Petronet LNG statement said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
41 minutes ago
- Hindustan Times
RCB's parent company reacts to 'plans to sell' franchise after winning IPL
Rumours of the Royal Challengers Bengaluru (RCB) being on sale surfaced just days after the franchise claimed its maiden Indian Premier League (IPL) title after beating Punjab Kings in Ahmedabad. However, the owners, Diageo India, an Indian branch of UK-based Diageo Plc, categorically shut the rumours as they told the Bombay Stock Exchange (BSE) and BSE Surveillance Department on Tuesday that the reports were merely speculative in nature. Earlier, a Bloomberg report indicated that the British distiller has been in discussion with potential advisers on selling part or all of the club. Diageo owns the team through its Indian unit, United Spirits Ltd., and may seek a valuation of as much as $2 billion. However, the rumours were ended in a mail to the BSE, with Mital Sanghvi, the company secretary, informing the regulating body of the Indian Stock Market, "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records." Diageo is registered with the BSE and hence a mail was sent to the company as the rumours around the RCB had lifted the share price. Shares of United Spirits gained as much as 3.3%, to hit a five-month high, in Mumbai trading on Tuesday morning following the report on potential deal. The rumours emerged at a time when India's health ministry is keen on banning the promotion of tobacco and alcohol brands in the IPL. While advertisement of such products are strictly prohibited in India, Diageo have promoted other products such as soda using top cricketers. The discussions also emerged at a time when RCB found themselves in the midst of a controversy after the unfortunate incident outside the Chinnaswamy on June 4. The franchise had arranged a celebration in the city a day after the IPL win, which saw around 2.5 lakh fans gathering in and around the home stadium in Bengaluru. But all turned into a chaos as a stampede saw 11 people losing their lives, while 56 were left injured. The incident has drawn criticism from local authorities and increased scrutiny over event safety, adding pressure on the franchise's ownership as it faces reputational risks tied to the tragedy.
Indian Express
an hour ago
- Indian Express
UK, allies decide to sanction Israeli ministers; ‘unacceptable', says Tel Aviv
Britain and several of its allies are planning to place sanctions on two far-right Israeli ministers, Itamar Ben-Gvir and Bezalel Smotrich, over their role in the ongoing war in Gaza, news agency Reuters reported on Tuesday. The sanctions are expected to include travel bans and asset freezes. According to the report, countries including Canada, Australia, and New Zealand will join the UK in the move. Ben-Gvir, Israel's national security minister, and Smotrich, the finance minister, are both known for their hardline positions and close links to West Bank settlements. The British foreign office has not yet responded to requests for comment. Reacting to the report, Israel's Foreign Minister Gideon Saar said the decision was 'outrageous.' 'This is an unacceptable decision,' Saar told reporters in Jerusalem, according to Reuters. He added that Israel's government would meet early next week to discuss a formal response. In recent weeks, Britain has stepped up pressure on Israeli Prime Minister Benjamin Netanyahu's government. Last month, London suspended free trade talks with Israel and summoned its ambassador. It also announced sanctions against some West Bank settlers, criticising what it called 'egregious policies.' UK Foreign Secretary David Lammy has spoken critically about the conflict. Referring to Israel's recent military action in Gaza, Lammy said it marked 'a dark new phase in this conflict.' He has also condemned past remarks made by Smotrich about relocating Gaza's population to other countries.
Time of India
2 hours ago
- Time of India
Qualcomm strengthens AI portfolio with $2.4 billion Alphawave deal
HighlightsQualcomm Incorporated has agreed to acquire Alphawave Semi for approximately $2.4 billion, aiming to expand into the rapidly growing artificial intelligence data center market. Alphawave Semi's shareholders will receive 183 pence per share, a nearly 96% premium compared to the closing price prior to Qualcomm's interest, causing Alphawave's shares to surge over 22%. Qualcomm's acquisition of Alphawave Semi is expected to close in the first calendar quarter of 2026 and is not anticipated to face significant regulatory challenges, as Alphawave has exited its Chinese joint venture. U.S. chipmaker Qualcomm agreed to acquire Alphawave for about $2.4 billion on Monday, as it expands into the booming AI data center market , sending shares of the British semiconductor company surging more than 22%. Alphawave, which designs semiconductor tech for data centers, is the latest British company to be snapped up in a market plagued by low valuations and stunted growth, with U.S. buyers swooping on firms at comparatively low prices and better-performing bourses proving more attractive for share listings. It can help Qualcomm diversify into the data center market, as the biggest provider of smartphone chips looks to reduce its dependence on the industry. Qualcomm, which counts Apple and major android players such as Xiaomi among its customers, has doubled-down on catering to industries such as data centers and personal computers as the iPhone maker increasingly turns to in-house processors. "The acquisition of Alphawave Semi aims to further accelerate and provide key assets for Qualcomm's expansion into data centers," the company said. Alphawave shareholders will receive 183 pence per share - a near 96% premium to the March 31 closing price immediately before Qualcomm disclosed its interest. News of the deal sent the stock up more than 22%. Shares of Qualcomm rose about 4%. Qualcomm also made two alternative all-share offers for Alphawave on Monday after multiple deadline extensions from the UK takeover panel. However, Alphawave plans to unanimously recommend the cash offer to its shareholders, deeming it fair and reasonable. Jefferies analysts said they do not expect the deal to meet any material regulatory obstacles, after Alphawave exited its Chinese joint venture, WiseWave. "Alphawave has developed leading high-speed wired connectivity and compute technologies that are complementary to our power-efficient central processing unit and neural processing unit cores," Cristiano Amon, president and CEO of Qualcomm, said. The acquisition is expected to close during the first calendar quarter of 2026. SoftBank-owned Arm had also sought to acquire Alphawave but decided not to pursue the takeover, Reuters had reported in April citing sources.
