Petronet LNG’s revenues slip more than 50% as West Asia tensions marred supplies
Net profit although surged 33.2% in the June-end quarter.
India's leading natural gas importer, Petronet LNG, witnessed a staggering 52.3% drop in standalone revenues for the June-end quarter, as geopolitical tensions in West Asia persistently impacted its LNG supplies. In the preceding period, approximately 47% of India's LNG imports were sourced from Qatar. Despite the revenue decline, Petronet LNG reported a significant surge in net profit, up by 33.2% to ₹1,132 crore during the same period.
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