Petronet LNG - Q1FY14 Result First-Cut - Microsec

Petronet LNG Ltd. announced its Q1FY14 results on July 30, 2013.

The company reported a total income of Rs. 8444.20 crores which marginally declined by 0.25%YoY. Their bottomline came at Rs. 225.32crores which is down by 8.09% on YoY basis. The other Income was Rs. 15.24crores which is down both on QoQ & YoY basis alongwith the delay in the commissioning of Kochi Terminal which was earlier scheduled during the quarter dragged the net profits. The foreign exchange fluctuation was adjusted with the cost of materials consumed which in turn put the pressure on EBITDA. EBITDA & PAT margins are under pressure both on QoQ & YoY basis.

Considering its future visibility we 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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