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Petronet LNG consolidated
net sales increased 65.90% to Rs 14263.82 crore in Q1FY23 compared to
Q1FY22.
During the quarter ended
30th June, 2022, Dahej terminal processed 196 TBTU of LNG as against 194 TBTU
processed during the corresponding quarter ended 30th June, 2021 and 178 TBTU
processed during the previous quarter ended 31st March, 2022. The overall LNG
volume processed by the Company in the current quarter was 208 TBTU, as against
the LNG volume processed in the corresponding and previous quarters, which
stood at 209 TBTU and 190 TBTU respectively.
Operating profit margin has
declined from 12.23% to 7.46%, leading to 1.18% rise in operating profit to Rs
1,063.99 crore. Raw material cost as a %
of total sales (net of stock adjustments) increased from 85.36% to 90.44%. Employee cost decreased from 0.50% to
0.32%. Other expenses fell from 1.91%
to 1.78%.
Other income rose 81.10% to
Rs 124.18 crore. PBIDT rose 6.08% to Rs
1188.17 crore. Provision for interest
fell 2.72% to Rs 77.85 crore.
PBDT rose 6.75% to Rs
1110.32 crore. Provision for depreciation
fell 0.19% to Rs 191.24 crore.
Profit before tax grew
8.32% to Rs 919.08 crore. Share of
profit/loss was 14.85% higher at Rs 41.83 crore. Provision for tax was expense of Rs 236.07
crore, compared to Rs 214.82 crore.
Effective tax rate was 24.57% compared to 24.28%.
Net profit attributable to
owners of the company increased 8.18% to Rs 724.84 crore.
The company was able to
achieve robust financial results despite high LNG prices, owing to optimization
in its operation.
Promoters’ stake was 50.00%
as of 30 June 2022 compared to 50.00% as of 30 June 2021.
Full year results analysis
Net sales (including other
operating income) of Petronet LNG has increased 65.89% to Rs 43168.57
crore. Operating profit margin has
declined from 18.06% to 12.16%, leading to 11.69% rise in operating profit to
Rs 5,248.69 crore. Raw material cost as
a % of total sales (net of stock adjustments) increased from 79.55% to
85.89%. Employee cost decreased from
0.57% to 0.41%. Other expenses fell
from 1.83% to 1.54%.
Other income fell 17.09% to
Rs 297.73 crore. PBIDT rose 9.64% to Rs
5546.42 crore. Provision for interest
fell 5.54% to Rs 317.33 crore. Loan
funds declined from Rs 3,652.93 crore as of 31 March 2021 to Rs 3,438.50 crore
as of 31 March 2022. Inventories rose to
Rs 576.68 crore as of 31 March 2022 from Rs 337.18 crore as of 31 March
2021. Sundry debtors were higher at Rs
2,684.44 crore as of 31 March 2022 compared to Rs 1,874.53 crore as of 31 March
2021. Cash and bank balance declined
from Rs 4,342.34 crore as of 31 March 2021 to Rs 4,326.27 crore as of 31 March
2022. Investments declined from Rs
1,706.97 crore as of 31 March 2021 to Rs 1,285.94 crore as of 31 March
2022.
PBDT rose 10.72% to Rs
5229.09 crore. Provision for
depreciation fell 1.99% to Rs 768.46 crore.
Fixed assets declined from Rs 10,338.40 crore as of 31 March 2021 to Rs
9,749.62 crore as of 31 March 2022. Intangible
assets declined from Rs 0.22 crore to Rs 0.20 crore.
Profit before tax grew
13.25% to Rs 4,460.63 crore. Share of
profit/loss was 421.13% higher at Rs 98.65 crore. Provision for tax was expense of Rs 1121.17
crore, compared to Rs 1018.28 crore.
Effective tax rate was 24.59% compared to 25.73%.
Minority interest was nil
in both the periods. Net profit
attributable to owners of the company increased 16.97% to Rs 3,438.11
crore.
Equity capital stood at Rs
1,500.00 crore as of 31 March 2022 to Rs 1,500.00 crore as of 31 March
2021. Per share face Value remained same
at Rs 10.00.
Promoters’ stake was 50.00%
as of 31 March 2022 compared to 50.00% as of 31 March 2021.
Cash flow from operating
activities decreased to Rs 3,468.78 crore for year ended March 2022 from Rs
3,559.23 crore for year ended March 2021.
Cash flow used in acquiring fixed assets during the year ended March
2022 stood at Rs 72.32 crore, compared to Rs 73.04 crore during the year ended
March 2021.
The scrip is trading at Rs 215
at BSE
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Petronet LNG : Consolidated Results
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Particulars
|
2206
(03)
|
2106
(03)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Net
Sales
|
14,263.82
|
8,597.90
|
66
|
43,168.57
|
26,022.90
|
66
|
|
OPM
(%)
|
7.5
|
12.2
|
|
12.2
|
18.1
|
|
|
OP
|
1,063.99
|
1,051.53
|
1
|
5,248.69
|
4,699.54
|
12
|
|
Other
Inc.
|
124.18
|
68.57
|
81
|
297.73
|
359.08
|
-17
|
|
PBIDT
|
1,188.17
|
1,120.10
|
6
|
5,546.42
|
5,058.62
|
10
|
|
Interest
|
77.85
|
80.03
|
-3
|
317.33
|
335.95
|
-6
|
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PBDT
|
1,110.32
|
1,040.07
|
7
|
5,229.09
|
4,722.67
|
11
|
|
Depreciation
|
191.24
|
191.61
|
0
|
768.46
|
784.09
|
-2
|
|
PBT
|
919.08
|
848.46
|
8
|
4460.63
|
3938.58
|
13
|
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Share
of Profit/(Loss) from Associates
|
41.83
|
36.42
|
15
|
98.65
|
18.93
|
421
|
|
PBT
before EO
|
960.91
|
884.88
|
9
|
4559.28
|
3957.51
|
15
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
960.91
|
884.88
|
9
|
4559.28
|
3957.51
|
15
|
|
Taxation
|
236.07
|
214.82
|
10
|
1121.17
|
1018.28
|
10
|
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PAT
|
724.84
|
670.06
|
8
|
3438.11
|
2939.23
|
17
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
724.84
|
670.06
|
8
|
3438.11
|
2939.23
|
17
|
|
EPS
(Rs)*
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#
|
#
|
|
22.9
|
19.6
|
|
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Notes
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*
EPS is on current equity of Rs 1,500.00 crore, Face value of Rs 10, Excluding
extraordinary items.
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#
EPS is not annualised
|
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bps
: Basis points
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EO
: Extraordinary items
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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