Petronet LNGs net profit rises by 55%
The operating porfit (EBITDA) stood at Rs 642.48 crore, increasing by 80.51% yoy and 40.25% qoq. While its operating profit margin was at 12.03%, expanding by 779 basis points (bps) yoy and 449 bps qoq.
Petronet LNG reported net profit of Rs 377.86 crore for the June quarter ended 2016(Q1FY17), registering robust growth of 54.78% year-on-year (yoy) and 55.49% quarter-on-quarter (qoq).
Noticeably, the company's total income from operations was weak. It total income of Rs 5337.31 crore, declined by 36.28% yoy and 12% qoq.
The bottom-line was boosted by strong EBITDA (earnings before interest tax depriciation and amortization) and margins.
The operating porfit (EBITDA) stood at Rs 642.48 crore, increasing by 80.51% yoy and 40.25% qoq. While its operating profit margin was at 12.03%, expanding by 779 basis points (bps) yoy and 449 bps qoq.
The Q1FY17 is reported as per the Indian Accounting Standards (Ind-As).
In this quarter, the Petronet LNG has build the country's first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala.
From which Dahej terminal has a nominal capacity of 10 MMTPA (equivalent to 40 MMSCMD of natural gas), the Kochi terminal has a capacity of 5 MMTPA (equivalent to 20 MMSCMD of natural gas).
Further, Petronet LNG is in the process to build the third terminal at Gangavaram, Andhra Pradesh, a PTI report.
Shares of Petronet LNG closed at Rs 353.20, up by 1.23%.
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