Petronet LNG Q3 PAT seen up 55% at Rs 265 cr

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Petronet LNG Q3 PAT seen up 55% at Rs 265 cr

Petronet LNG is expected to report a profit after tax of Rs 265 crore in the third quarter of FY12, a massive growth of 55% as compared to Rs 170.8 crore in a year ago quarter.

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ALSO READ News and Notices about Petronet LNG See interviews with Petronet LNG Management See what other Experts & Brokerages are saying about Petronet LNG See previous Results of Petronet LNG

Petronet LNG is expected to report a profit after tax of Rs 265 crore in the third quarter of FY12, a massive growth of 55% as compared to Rs 170.8 crore in a year ago quarter.

Sales are seen going up by 67% to Rs 6,070 crore from Rs 3,627.6 crore during the same period.

Operating profit margin is likely to be at 7.45% in the quarter ended December FY12 versus 9.52% in the corresponding quarter of last fiscal and 8.35% in an earlier quarter.

On quarter-on-quarter basis, sales are expected to go up by 13% and profit after tax is seen going up 2%.

Highlights

* Highest ever sales volumes again; utilization at 109% 

* Volumes seen up over 15% YoY at 138 TBTU's versus 119.7 TBTU's                

* Compares to Q2 volumes of 135.1 TBTU's, so slight sequential expansion

* Long term volumes should be stable; upside driven by higher spot volumes 

* Demand particularly from refineries continues to be very strong

* Gross margins (regas + marketing margin) should be largely stable QoQ at Rs 37/bbtu

* Cap on marketing margin remains the concern with Petronet

* But a cap on marketing margins of imported LNG less likely   

* Although highest ever volumes, company is now operating at full capacity

* Near term volume growth has peaked out now (1% QoQ vol growth in Q3)

* Volume growth will now kick in post Kochi commissioning in August/September