Shares of Petronet LNG trade higher post their Q2FY23 result announcement

Shares of Petronet LNG trade higher post their Q2FY23 result announcement

by 5paisa Research Team Last Updated: Dec 10, 2022 - 06:37 pm 10.7k Views
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The company has also declared a special interim dividend of Rs 7 per equity share (of the face value of Rs 10 each) of the company for FY23.

The shares of Petronet LNG are buzzing on the bourses today. As of 10.49 am, the shares of the company are trading higher by 1.98%. With this, the shares of Petronet LNG are amongst the top gainers on BSE from Group A. Meanwhile, the frontline index S&P BSE Sensex is down by 0.67%.

The surge in the share price of Petronet has come after the results announcement. Yesterday, the company announced the results for the quarter and a half year that ended on 30 September 2022. As per the exchange filing, the company’s consolidated net revenue grew 47.8% YoY to Rs 15,985.73 crore. However, the company witnessed a steeper growth in expenses, particularly in the cost of materials consumed. PBIDT (ex OI) declined 9.5% YoY to Rs 1172.54 crore, while the corresponding margin contracted by 466 bps YoY to 7.33%. The PAT declined by 9.7% YoY to Rs 737.61 crore, while the PAT margin contracted by 295 bps YoY to 4.61%.

The company has declared a special interim dividend of Rs 7 per equity share (of the face value of Rs 10 each) of the company for the financial year 2022-23.

Petronet LNG primarily operates in the business of importing and processing liquified natural gas. The company is promoting and developing LNG as motor vehicle fuels and for other small-scale consumption.

The company is currently trading at a TTM PE of 9.08x against the industry PE of 9.5x. In FY22, the company delivered an ROE & ROCE of 26.22% and 37.38%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 32,122.50 crore.

Today, the scrip opened at Rs 211.20 and has touched a high and low of Rs 218.85 and Rs 210.60, respectively. So far 2,10,007 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 240 and Rs 190.30, respectively on BSE.

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