Petronet LNG Q4 PAT seen up 41.5% at Rs 292 cr

Petronet LNG is expected to report a growth of 41.5% YoY in its net profit of Rs 292 crore for the quarter ended March 2012 on account of higher volumes and charges, according to CNBC-TV18 poll. The company had posted net profit at Rs 206.3 crore in a year ago period.

Sales are likely to jump 65.5% to Rs 6,600 crore from Rs 3,986 crore during the same period.

Operating profit margin is seen going up at 7.5% in the January-March quarter of FY12 as against 8.8% in the corresponding quarter of last fiscal.

Highlights

* YoY growth remains strong on account of higher volumes, charges, but it may see a 2-3% decline in volumes sequentially

* Q3 capacity utilization was at an all time high at 115% (Management has indicated a capacity utilization of about 110% in recent interview)

* Total volumes expected around 140 TBTU’s versus 145 TBTU’s last quarter

* Regas charges see the annual 5% increase in January; so up 5% QoQ

* Gross margins should be largely flat QoQ at Rs 39-40/mmbtu

Key Triggers

* Stock underperforming after recent PNGRB moves

* Street worried about a possible cap in marketing margin

* However, most analysts still believe Petronet marketing margins will not be capped

* In terms of growth Kochi commissioning is the key driver