Petronet LNG Receives ₹336.8 Million Tax Demand

Petronet LNG Ltd, India's largest liquefied natural gas importer, has been slapped with a tax demand of ₹336.8 million ($4.05 million) including interest and penalties. The news comes even as the company is grappling with a trying fiscal situation, having posted a 25.6% year-on-year fall in Q3FY25 consolidated profit at ₹901.7 crore. The tax notice comes on top of the financial woes of Petronet LNG, which has been grappling with volatile global LNG prices and capacity utilization issues. The company, which is strategically placed in India's energy landscape, will most probably address this tax issue while pursuing its expansion strategy, including the current capacity augmentation at its Dahej terminal.

 

Source: Petronet LNG Ltd announcement