PETRONET LNG Announces Quarterly Results (1QFY21); Net Profit Down 7.1%

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PETRONET LNG Announces Quarterly Results (1QFY21); Net Profit Down 7.1%
Tue, 1 Sep

PETRONET LNG has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

PETRONET LNG Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m86,13485,67248,836-43.0%-43.3%
Other incomeRs m1,044865684-20.9%-34.5%
TurnoverRs m87,17986,53649,520-42.8%-43.2%
ExpensesRs m75,89578,69639,736-49.5%-47.6%
Gross profitRs m10,2396,9759,09930.5%-11.1%
DepreciationRs m1,8991,9421,936-0.3%1.9%
InterestRs m1,0051,035881-14.9%-12.3%
Profit before taxRs m8,3794,8636,96643.3%-16.9%
TaxRs m2,7771,2721,76438.6%-36.5%
Profit after taxRs m5,6033,5905,20244.9%-7.1%
Gross profit margin%11.98.118.6
Effective tax rate%33.126.225.3
Net profit margin%6.44.110.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 43.3% on a year-on-year (YoY) basis. The expenses were down by 47.6% YoY during the same period.
  • The company's operating profit declined by 11.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.6% in 1QFY21 as against 11.9% in 1QFY20.
  • Depreciation charges increased by 1.9% and finance costs declined by 12.3% YoY, respectively.
  • Other income declined by 34.5% YoY during the quarter.
  • Net profit for the quarter declined by 7.1% YoY. Net profit margins during the quarter increased from 6.4% in 1QFY20 to 10.5% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 43.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 49.5% QoQ during the same period.
  • The company's operating profit increased by 30.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.6% in 1QFY21 as against 8.1% in 4QFY20.
  • Net profit for the quarter increased by 44.9% QoQ, while net profit margins increased from 4.1% in 4QFY20 to 10.5% in 1QFY21.

To see how PETRONET LNG has performed over the last eight quarters,please visit here.

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PETRONET LNG Share Price Performance

Over the last one year,PETRONET LNG share price has moved down from Rs 266.8 to Rs 239.1, registering a Loss of Rs 27.8 or around 10.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 12,968.4 (down 0.9%). Over the last one year it has moved down from 13,163.7 to 12,968.4, a gain of 195 points (down 1.5%).

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 239.1, the price to earnings (P/E) ratio of PETRONET LNG stands at 13.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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For the quarter ended December 2019, PETRONET LNG has posted a net profit of Rs 7 bn (up 19.4% YoY). Sales on the other hand came in at Rs 89 bn (down 11.8% YoY). Read on for a complete analysis of PETRONET LNG's quarterly results.

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Mar 1, 2021 03:36 PM

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