Core Viewpoint - Petronet LNG has issued force majeure notices due to supply disruptions caused by the ongoing war in the Middle East, impacting its LNG tankers and operations [1][5]. Financial Performance - The company reported a 5.2% quarter-on-quarter increase in net profit for the December quarter, reaching Rs 848.3 crore, up from Rs 806 crore in the previous quarter [5]. - Revenue increased by 1.4% QoQ to Rs 11,163 crore, compared to Rs 11,009 crore in the preceding quarter [5]. - EBITDA rose by 7.3% to Rs 1,199 crore from Rs 1,117 crore in the previous quarter, with EBITDA margin improving to 10.7% from 10.1% [6]. Operational Challenges - The company has faced supply disruptions due to the inability of its LNG tankers to safely transit through the Strait of Hormuz, which is critical for reaching QatarEnergy's loading port [5]. - Petronet LNG has issued corresponding force majeure notices to key off-takers, including GAIL (India) Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation, under relevant Gas Sale and Purchase Agreements [5].
Petronet LNG shares in focus after issuing force majeure notices amid Middle East hostilities
The Economic Times·2026-03-04 03:20