Earnings Outlook
Petronet LNG Jul-Sept PAT seen up 14.6% YoY at INR 9.4 bln
This story was originally published at 14:28 IST on 21 October 2024
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By Avishek Rakshit
KOLKATA – Petronet LNG Ltd. is expected to report a net profit of INR 9.4 billion for the September quarter, up 14.6% on year, according to the average of estimates from 11 brokerage firms. Its revenue is estimated to grow 5.6% on year to INR 132.3 billion, according to the estimates.
Sequentially, however, the company's net profit is expected to dip 17.9% and revenue is seen declining 1.4%. For the year-ago period, the company had reported a net profit of INR 8.2 billion on revenue of INR 125.3 billion, while for Apr-Jun, the net profit was INR 11.4 billion on revenue of INR 134.2 billion.
The company will declare its Jul-Sept financial results on Oct. 24.
Among brokerages, Anand Rathi Share and Stock Brokers Ltd. has given the highest estimate for Petronet LNG's net profit at INR 10.7 billion and Prabhudas Lilladher Pvt. Ltd. has given the lowest at INR 8.3 billion. The highest revenue was estimated by Prabhudas Lilladher at INR 146 billion, while Nomura Equity Research estimated the lowest at INR 118.8 billion.
Reasoning about the sequential projected decline in revenues and profits, Kotak Institutional Equities said that it is on account of lower sales volumes and lower adventitious gains. Also, a provision of INR 1.4 billion for operations under the past use-or-pay charges model could hurt its sequential revenue growth.
However, Motilal Oswal Financial Services Ltd. said that a 4% on-year volume growth could drive its revenues on-year. Nuvama Wealth Management Ltd. pegged the volume growth higher at 9%. Liquefied natural gas imports remain strong given robust power demand and moderate prices overall, Motilal Oswal Financial Services said in a report. According to Nuvama Wealth Management, liquefied natural gas prices rose 3% on-year and 17% on a sequential basis.
Petronet LNG is expected to post earnings before interest, tax, depreciation, and amortisation of INR 13.6 billion, according to the average of the estimates from 10 brokerages. The estimates for EBITDA range from INR 12.3 billion by Emkay Global Financial Services Ltd. and INR 15.1 billion by Kotak Institutional Equities.
Following are the Jul-Sept earnings estimates of Petronet LNG based on reports compiled by Informist from 11 brokerage houses:
Broker Name | Net Sales (in INR million) | Net Profit (in INR million) | EBITDA (in INR million) |
Anand Rathi Share and Stock Brokers Ltd | 1,40,196.00 | 10,672.00 |
|
Antique Stock Broking Ltd | 1,40,638.00 | 9,862.00 | 14,269.00 |
Elara Securities (India) Pvt Ltd | 1,30,875.00 | 10,549.00 | 14,533.00 |
Emkay Global Financial Services Ltd | 1,32,163.00 | 8,582.00 | 12,298.00 |
ICICI Securities Ltd | 1,19,000.00 | 9,000.00 | 14,000.00 |
Kotak Institutional Equities | 1,29,824.00 | 9,146.00 | 15,124.00 |
Motilal Oswal Financial Services Ltd | 1,40,196.00 | 8,883.00 | 13,125.00 |
Nomura Equity Research | 1,18,800.00 | 10,000.00 | 13,900.00 |
Nuvama Wealth Management Ltd | 1,24,439.00 | 8,742.00 | 12,833.00 |
Prabhudas Lilladher Pvt Ltd | 1,46,400.00 | 8,300.00 | 12,300.00 |
YES Securities (India) Ltd | 1,32,596.00 | 9,400.00 | 13,607.00 |
Average | 1,32,284.27 | 9,376.00 | 13,598.90 |
At 1227 IST, shares of Petronet LNG traded 0.3% down at INR 348.8 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
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