Petronet LNG hits 52-week high on strong Q2 numbers

Shares of Petronet LNG touched 52-week high of Rs 275.30, advancing 5.7 percent intraday Thursday on robust September quarter numbers.

The company has posted a 28 percent increase in September-quarter profit to Rs 589 crore against Rs 459.56 crore in the same quarter last fiscal.

Income of the company rose 17.5 percent at Rs 7770 crore against Rs 6614 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) of the company was at Rs 898.7 crore and EBIDTA margin was at 11.6 percent.

The Q2 has reported highest ever LNG processed by company. Its Dahej terminal processed higher ever volume with capacity utilisation at 110 percent. The Kochi terminal operating at 16 percent capacity, company told to CNBC-TV18.

Motilal Oswal has maintained buy rating on the stock with a target of Rs 275 in its report dated November 8, 2017.

At 11:36 hrs Petronet LNG was quoting at Rs 275.30, up Rs 15.15, or 5.82 percent on the BSE.

Posted by Rakesh Patil