Petronet LNG disappoints, Q2 net slips 19% to Rs 182 cr

Moneycontrol Bureau

Petronet LNG, the state-run importer of liquefied natural gas, disappointed street with its opeational performance in second quarter (July-September), but revenues came in above analysts' forecast. Net profit fell 19 percent sequentially to Rs 182 crore in the quarter gone by.
Net sales grew 12.8 percent quarter-on-quarter to Rs 9,449 crore in September quarter from Rs 8,377 crore in June quarter.
According to a CNBC-TV18 poll, analysts had estimated the company to report net profit of Rs 207 crore on revenues of Rs 9,327 crore for the quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 3.6 percent Q-o-Q to Rs 319 crore and EBITDA margin slipped 50 basis points on sequential basis to 3.4 percent while analysts had forecasted EBITDA at Rs 391 crore and margin at 4.2 percent.
Meanwhile, the company has commissioned its 5 MMTPA Kochi LNG terminal in September quarter.