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PETRONET LNG Announces Quarterly Results (3QFY19); Net Profit Up 6.9%

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PETRONET LNG Announces Quarterly Results (3QFY19); Net Profit Up 6.9%
Fri, 1 Feb

PETRONET LNG has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

PETRONET LNG Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m77,571107,453100,977-6.0%30.2%
Other incomeRs m4141,115884-20.7%113.6%
TurnoverRs m77,985108,568101,862-6.2%30.6%
ExpensesRs m69,09798,61692,497-6.2%33.9%
Gross profitRs m8,4748,8378,481-4.0%0.1%
DepreciationRs m1,0391,0371,0370.0%-0.2%
InterestRs m367249215-13.5%-41.2%
Profit before taxRs m7,4828,6668,113-6.4%8.4%
TaxRs m2,1943,0372,460-19.0%12.1%
Profit after taxRs m5,2885,6305,6530.4%6.9%
Gross profit margin%10.98.28.4
Effective tax rate%29.335.030.3
Net profit margin%6.85.25.5
* 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 grew 30.2% on a year-on-year (YoY) basis. The expenses were up by 33.9% YoY during the same period.
  • The company's operating profit increased by 0.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.4% in 3QFY19 as against 10.9% in 3QFY18.
  • Depreciation charges declined by 0.2% and finance costs declined by 41.2% YoY, respectively.
  • Other income increased by 113.6% YoY during the quarter.
  • Net profit for the quarter increased by 6.9% YoY. Net profit margins during the quarter declined from 6.8% in 3QFY18 to 5.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.2% QoQ during the same period.
  • The company's operating profit increased by 4.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.4% in 3QFY19 as against 8.2% in 2QFY18.
  • Net profit for the quarter increased by 0.4% QoQ, while net profit margins increased from 5.2% in 2QFY18 to 5.5% in 3QFY19.

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

PETRONET LNG Share Price Performance

Over the last one year, PETRONET LNG share price has moved up from Rs 251.7 to Rs 224.5, registering a Loss of Rs 27.2 or around 10.8%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,570.5 (down 0.3%). Over the last one year it has moved down from 16,159.0 to 13,570.5, a gain of 2,589 points (down 16.0%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 224.5, the price to earnings (P/E) ratio of PETRONET LNG stands at 15.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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For the quarter ended March 2019, PETRONET LNG has posted a net profit of Rs 4 bn (down 15.8% YoY). Sales on the other hand came in at Rs 84 bn (down 2.9% YoY). Read on for a complete analysis of PETRONET LNG's quarterly results.

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PETRONET LNG Announces Quarterly Results (2QFY19); Net Profit Down 4.4% (Quarterly Result Update)

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For the quarter ended September 2018, PETRONET LNG has posted a net profit of Rs 6 bn (down 4.4% YoY). Sales on the other hand came in at Rs 107 bn (up 38.3% YoY). Read on for a complete analysis of PETRONET LNG's quarterly results.

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