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Petronet LNG: Spot cargo boost… - Views on News from Equitymaster
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Petronet LNG: Spot cargo boost…
Feb 7, 2007

Petronet LNG, the regasification major’s performance during 3QFY07 and 9mFY07 has been quite robust. The topline for the quarter increased by 53% YoY on the back of processing of spot cargoes procured at international prices. Operating margins were marginally lower as they declined by 80 basis points during the quarter. Net profits registered a growth of 72% YoY, helped by higher other income (increase of 52% YoY) and benign depreciation and lower finance charges. The performance for nine months has also been impressive with the bottomline growing at 61% YoY on the back of a 37% YoY growth in topline.

Financial snapshot…
(Rs m) 3QFY06 3QFY07 Change 9mFY06 9mFY07 Change
Net sales 10,297 15,760 53.1% 28,955 39,702 37.1%
Expenditure 9,080 14,026 54.5% 25,526 35,212 37.9%
Operating profit (EBDITA) 1,217 1,733 42.4% 3,429 4,489 30.9%
EBDITA margins 11.8% 11.0%   11.8% 11.3%  
Other income 57 88 52.7% 127 218 70.9%
Interest expenses 267 276 3.2% 851 811 -4.7%
Depreciation 254 257 1.1% 758 768 1.3%
Profit before tax 753 1,288 71.1% 1,947 3,128 60.7%
Tax 256 437 70.4% 658 1,055 60.2%
Profit after Tax 496 851.0 71.5% 1,288 2,073 60.9%
Net profit margin 4.82% 5.40%   4.4% 5.2%  
No. of shares (m) 750.0 750.0   750.0 750.0  
Diluted earnings per share 0.66 1.13   1.72 2.76  
Price to earnings ratio*         13.8  

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