PETRONET LNG Announces Quarterly Results (1QFY22); Net Profit Up 21.8%

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PETRONET LNG Announces Quarterly Results (1QFY22); Net Profit Up 21.8%
Mon, 16 Aug

PETRONET LNG has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

PETRONET LNG Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m48,83675,75385,97913.5%76.1%
Other incomeRs m68449268639.5%0.3%
TurnoverRs m49,52076,24586,66513.7%75.0%
ExpensesRs m39,73664,84275,46416.4%89.9%
Gross profitRs m9,09910,91110,515-3.6%15.6%
DepreciationRs m1,9362,0281,916-5.5%-1.0%
InterestRs m881813800-1.6%-9.2%
Profit before taxRs m6,9668,5618,485-0.9%21.8%
TaxRs m1,7642,3282,148-7.7%21.8%
Profit after taxRs m5,2026,2346,3361.6%21.8%
Gross profit margin%18.614.412.2
Effective tax rate%25.327.225.3
Net profit margin%10.58.27.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 76.1% on a year-on-year (YoY) basis. The expenses were up by 89.9% YoY during the same period.
  • The company's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.2% in 1QFY22 as against 18.6% in 1QFY21.
  • Depreciation charges declined by 1.0% and finance costs declined by 9.2% YoY, respectively.
  • Other income increased by 0.3% YoY during the quarter.
  • Net profit for the quarter increased by 21.8% YoY. Net profit margins during the quarter declined from 10.5% in 1QFY21 to 7.3% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.4% QoQ during the same period.
  • The company's operating profit declined by 3.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.2% in 1QFY22 as against 14.4% in 4QFY21.
  • Net profit for the quarter increased by 1.6% QoQ, while net profit margins declined from 8.2% in 4QFY21 to 7.3% in 1QFY22.

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 260.0 to Rs 214.5, registering a Loss of Rs 45.5 or around 17.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,889.8 (up 0.9%). Over the last one year it has moved up from 13,189.1 to 15,889.8, a gain of 2,701 points (up 20.5%).

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 214.5, the price to earnings (P/E) ratio of PETRONET LNG stands at 10.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.9 times.

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