PETRONET LNG Announces Quarterly Results (2QFY20); Net Profit Up 96.0%

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PETRONET LNG Announces Quarterly Results (2QFY20); Net Profit Up 96.0%
Wed, 6 Nov

PETRONET LNG has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

PETRONET LNG Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m107,45386,13493,6128.7%-12.9%
Other incomeRs m1,1151,044975-6.6%-12.5%
TurnoverRs m108,56887,17994,5878.5%-12.9%
ExpensesRs m98,61675,89582,0078.1%-16.8%
Gross profitRs m8,83710,23910,8846.3%23.2%
DepreciationRs m1,0371,8991,9603.2%89.0%
InterestRs m2491,0051,0514.6%322.4%
Profit before taxRs m8,6668,3798,8485.6%2.1%
TaxRs m3,0372,777-2,184-178.6%-171.9%
Profit after taxRs m5,6305,60311,03196.9%96.0%
Gross profit margin%8.211.911.6
Effective tax rate%35.033.1-24.7
Net profit margin%5.26.411.7
* 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 12.9% on a year-on-year (YoY) basis. The expenses were down by 16.8% YoY during the same period.
  • The company's operating profit increased by 23.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.6% in 2QFY20 as against 8.2% in 2QFY19.
  • Depreciation charges increased by 89.0% and finance costs increased by 322.4% YoY, respectively.
  • Other income declined by 12.5% YoY during the quarter.
  • Net profit for the quarter increased by 96.0% YoY. Net profit margins during the quarter increased from 5.2% in 2QFY19 to 11.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.1% QoQ during the same period.
  • The company's operating profit increased by 6.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.6% in 2QFY20 as against 11.9% in 1QFY19.
  • Net profit for the quarter increased by 96.9% QoQ, while net profit margins increased from 6.4% in 1QFY19 to 11.7% in 2QFY20.

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

Discover Now: One Stock for Potentially Life-changing Gains

PETRONET LNG Share Price Performance

Over the last one year,PETRONET LNG share price has moved up from Rs 214.6 to Rs 285.4, registering a Gain of Rs 70.8 or around 33.0%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,484.1 (down 0.5%). Over the last one year it has moved up from 13,388.1 to 15,484.1, a gain of 2,096 points (up 15.7%).

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 285.4, the price to earnings (P/E) ratio of PETRONET LNG stands at 16.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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