- 12 May 2022
- ICICIdirect Research
PETRONET LNG POSTS Q4FY22 RESULTS
PETRONET - 323 Change: -7.95 (-2.40 %)News: Revenue increased 47.3% YoY to Rs. 11160.4 crore in Q4FY22. Total volume stood at 190 tbtu, down 12.8% YoY and 8.7% QoQ). Blended margin stood at Rs. 72.5/mmbtu. Subsequently, EBITDA was at Rs. 1169.1 crore, up 7.1% YoY leading to PAT of Rs. 750.1 crore, up 20.3% YoY
Views: Results were ahead of estimates on profitability front as blended margin was better than expectations. Blended margin was Rs. 72.5/mmbtu against estimate of Rs. 61.3/mmbtu while total volume was broadly in line with expectations. During the quarter, under long term regasification contracts, income of Rs. 83.2 crore has been recognised on account of lower capacity utilisation by its customers. The company has revised tariff at Kochi terminal as the customers have committed additional volumes. We seek management commentary on outlook ahead regarding contracted LNG and regas volumes and tariff revision at Kochi terminal.
Impact: Positive