Petronet LNG Q2 net likely to fall 37% at Rs 198.8 cr: MOST
According to Motilal Oswal, Petronet LNG to report a 11.8 percent degrowth quarter-on-quarter (degrowth of 36.8 percent year-on-year) in net profit at Rs 198.8 crore.
October 18, 2013 / 09:38 IST
Motilal Oswal has come out with its second quarter (July-September) earnings estimates for the oil & gas sector. The brokerage house expects Petronet LNG to report a 11.8 percent degrowth quarter-on-quarter (down 36.8 percent year-on-year) in net profit at Rs 198.8 crore.
Revenues are expected to increase by 23.2 percent Q-o-Q (up 37.8 percent Y-o-Y) to Rs 10,400 crore, according to Motilal Oswal.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 2.1 percent Q-o-Q (down 24.9 percent Y-o-Y) to Rs 389.4 crore.Motilal Oswal's Report on Petronet LNG:We expect PLNG to report PAT of INR 2 billion (down 37 percent Y-o-Y and 12 percent Q-o-Q) for 2QFY14. We estimate EBITDA at INR 3.9 billion (down 25 percent Y-o-Y and 2 percent Q-o-Q).We have built in LNG volumes at 2.6mmt in 2QFY14, flat Q-o-Q. We model 10.6mmtpa volumes in FY14 at Dahej, of which 7.5mmtpa would
be on long-term contract and 3.1mmtpa on short-term. We model in 0.2mmt volumes from Kochi in FY14.We model 5 percent escalation in re-gasification tariff till FY15 and flat thereafter at Dahej.The stock trades at 9.5x FY15E consolidated EPS of INR 12.9. Lower spot LNG prices and sale of ADB's stake are key near-term positives for the stock.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
