Petronet LNG -Steady performance ::Emkay,

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Petronet LNG

Steady performance

BUY

CMP: Rs161                                        Target Price: Rs170

---

n     Results were above our and street estimates at bottom line, mainly due to higher volume growth of both Firm (~91tbtu) and Spot (44.08tbtu) volume during the quarter

n     Highest ever capacity utilization at 106% with volume growth of 35.7% to 135tbtu (+1.3% QoQ), We expect volume growth remains strong for next couple of quarters 

n     Revenue grew significantly by 75% to Rs.53.6bn, and PAT grew by 98.6% to Rs.2.6bn.

n     Supply constrain of natural gas from KG D6 field continue to support higher volumes of PLNG, maintain BUY with PT of Rs.170