Petronet LNG - Q4FY13 Result First Cut - Microsec

Petronet LNG Ltd. announced its Q4 as well as its FY13 annual results on April 30, 2013.

Of Quarters...

The company reported a total income of Rs. 8465.56 crores which is up by ~32% on YoY basis whilst its bottomline came at Rs. 245.07 crores which shows a de-growth. The topline & bottomline as well disappointed on the quarterly front owing to the rise in cost of operations (>33% on YoY basis).

Of FY13...

The company's annual financials came in line with our estimates. The topline shows a staggering growth of 39percent (%) to Rs. 31467.44 however its PAT grew by ~9percent (%) to Rs. 1149.28crores because of high cost of operation courtesy challenging environment.

Considering its future visibility we continue to remain bullish on the scrip and maintain our "BUY" recommendation with a price target of Rs. 170 derived using Discounted Cash Flow (DCF) methodology.

Source : Equity Bulls

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