Petronet LNG (PLNG) reported 19% YoY decline in its adjusted EBITDA to Rs9.4bn (+4% QoQ) and 24% YoY dip in net adjusted earnings to Rs6.1bn in Q4FY23, well below I-Sec estimates of Rs12.9bn EBITDA and Rs8.3bn PAT. YoY earnings decline was due to a 23% YoY dip in service volumes and lower trading gains.