PETRONET LNG Announces Quarterly Results (4QFY19); Net Profit Down 15.8%

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PETRONET LNG Announces Quarterly Results (4QFY19); Net Profit Down 15.8%
Fri, 17 May

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

PETRONET LNG Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m86,362100,97783,832-17.0%-2.9%
Other incomeRs m1,0348841,51471.2%46.4%
TurnoverRs m87,396101,86285,346-16.2%-2.3%
ExpensesRs m78,14292,49777,560-16.1%-0.7%
Gross profitRs m8,2218,4816,272-26.0%-23.7%
DepreciationRs m1,0131,0371,016-2.0%0.3%
InterestRs m3352152254.5%-32.7%
Profit before taxRs m7,9088,1136,545-19.3%-17.2%
TaxRs m2,6812,4602,143-12.9%-20.1%
Profit after taxRs m5,2275,6534,402-22.1%-15.8%
Gross profit margin%9.58.47.5
Effective tax rate%33.930.332.7
Net profit margin%6.05.55.2
* 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 2.9% on a year-on-year (YoY) basis. The expenses were down by 0.7% YoY during the same period.
  • The company's operating profit declined by 23.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 4QFY19 as against 9.5% in 4QFY18.
  • Depreciation charges increased by 0.3% and finance costs declined by 32.7% YoY, respectively.
  • Other income increased by 46.4% YoY during the quarter.
  • Net profit for the quarter declined by 15.8% YoY. Net profit margins during the quarter declined from 6.0% in 4QFY18 to 5.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.1% QoQ during the same period.
  • The company's operating profit declined by 26.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 4QFY19 as against 8.4% in 3QFY18.
  • Net profit for the quarter declined by 22.1% QoQ, while net profit margins declined from 5.5% in 3QFY18 to 5.2% in 4QFY19.

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 219.4 to Rs 231.1, registering a Gain of Rs 11.8 or around 5.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,556.7 (down 0.1%). Over the last one year it has moved up from 14,511.1 to 14,556.7, a gain of 46 points (up 0.3%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 231.1, the price to earnings (P/E) ratio of PETRONET LNG stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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