Street View - India's Petronet LNG profit masks weaker outlook, supply risks

Petronet LNG

05/05/2026 05:32

** Shares of India's Petronet LNG PLNG.NS up 3.31% to 285.85 rupees

** Co reported 25.3% y/y jump in fourth quarter consolidated  profit to 13.38 billion rupees ($140.3 million), aided by trading gains and reversal of past provisions

ROUGH SEAS AHEAD

** Jefferies ("Buy"; TP: 335 rupees) says Q4 beat was driven by one-off gains and better volumes, but flags that underlying earnings remain weak amid lower terminal utilisation

** Nomura ("Buy"; TP: 340 rupees) says volumes surprised positively despite disruptions, but warns long-term LNG supply risks and weaker utilisation could weigh on earnings

** Macquarie ("Outperform"; TP: 330 rupees) says headline beat masks weaker core performance, with Dahej plant utilisation impacted by Middle East supply disruptions

** JPMorgan ("Overweight"; TP: 335 rupees) says strong volumes and recovery of past dues supported earnings, but flags sustained impact on long-term volumes if supply disruptions persist

($1 = 95.3675 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))