Petronet LNG : Financial Results for the quarter ended 31st December 2021

About this update from Petronet Lng Limited

Petronet LNG Limited Corporate Identity Number: L74899DL 1998PLC093073 First Floor, World Trade Center, Babar Road, Barakhamba Lane, New Delhi 110001 Statement of Unaudited Standalone financial results for quarter and nine months ended 31st December, 2021 (Alf amounts are Rupees in lac. unless otherwise slated) Quarter Ended Nine month Ended Particulars 31-Dec-20 31-Dec-21 30-Sep-21 31-Dec-20 31-Dec-21 Un-audited Un-audited Un-audited Un-audited Un-audited Year Ended 31-Mar-21 Audited Revenue Revenue from operations Other incom e 12,59,722 7, 185 I0,81,308 8, 164 7,32 11 , , 823 106 32,00,820 22,202 18 ,44,758 33,900 26,02,290 38,815 Total Revenue 12,66,907 10,89,472 7,43 ,929 32,23,022 18,78,658 26,41,IOS b. Expenses Cost of materials consumed Employee benefits expense Finance costs Depreciation and amotization expense OU1er expenses Total Expenses I0.69.495 3,528 7,757 19,364 13,484 11 ,13,628 9,26,015 5.608 7.944 19,358 20,000 9,78,925 5,84,337 3,433 8, 150 19.249 I. 1. 524 6,26,693 27,29,465 13 425 23 ,704 57,883 49,602 28,74,079 14,39,983 10,416 25,466 58, 126 33,514 15,67,505 20,68,1 50 14,711 33,595 78,409 49,475 22 ,-'4,340 Profit before exceptional items and tax (a-b) Exceptional Items Profit/ (loss) before tax (c-d) Tax expense: Current tax Deferred tax Total tax expense A Profit/ (los s) for the pe riod (e-1) 1,53,279 1, 10,547 - - J,53,279 1,10,547 39.402 30,598 (475 ) (2 ,353 ) 38,927 28,245 1,14,352 82,302 1,17,236 3,48,943 - - 1,17,236 3,48,943 29.600 93 ,200 (211 ) (4,478) 29 ,389 88,722 87,847 2,60,221 3,11,153 3,96,765 - - 3,11,153 3,96,765 79,100 1.02.500 (672) 78,553 1,01,828 2,32,600 2,94,937 Other comprehensive income to profit or loss Items that will not be reclassified Remeasurement of defined benefit plans Income tax re lati n!?. to remeasurement of defined benefit pl ans B Total other comprehen sive income for the period C Total comprehensive income for the period (A+ B) Paid-up Share Capital Other Equity Net Worth Earnings per equity share (Face value of Rs. 10/- each) Basic (Rs.) Diluted (R s. ) - - - - - - - - - - - - 1,14,352 82 ,302 87,847 2,60,221 1.5 0,000 1.50.000 1,50,000 1,50,000 9,52 .897 11,17,671 I l , 17,671 11 ,08,319 12,67,671 12,58,319 11,02,897 12,67,671 7.62 5.49 5.86 17.35 7.62 5.49 5.86 17 .35 (not annual ised) - (380) - 96 (284) 2,32,600 2,94,653 1.50.000 1,50.000 9,52,897 10, 14.950 11 ,02,897 11 .64,950 19.66 19.66 (annuali sed) Page 2 of 8 I 2 3 4 5 6 7 Notes: the Audit Committee and approved by the Board of Directors of the Company at the meeting held on 9lh The above results have been reviewed by February 202·2. The Statutory auditors of the Company have carried out limited review of the aforesaid results. The Company primarily operates in the business of import and processing of liquified natural gas. Accordingly, there is only one Reportable egment disclosure has been made w.r.t. operating segments. i.e. "Natural Gas Business", hence no specific In view of expected increase in capacity utilisation at Kochi terminal, the customers of the Company are asking for lower regasification tariff for Kochi w.r.t. Kochi terminal with rcvi ed Term inal w.e.f. 1st April 20 19. The Company is in discussion with its customers for committing additional volumes in the books of accounts on tariff. The likely impact of the aforesaid arrangement cannot be determined at this stage and would be recognised finalisation and due approval of the arrangement As per terms of long term regasitication agreement, the Company has booked ··Use or Pay charges'" of Rs 34,778 Lac for Calendar year (CY) 2021 of lower capacity utilisation by its customers and recognised the same as income in the profit and loss (Rs 5,588 Lac for CY 2020 ) on account The Company had invoiced Rs 19,844 Lac (excluding GST) as · use or Pay charges· to its 3 customers. over a period of last 4 years (upto alendar agreement. Out al of committed regasification facility at the Dahej plant, as per the terms of long-term regasification year 2020) for underutilization paid under Lac (excluding GST) had been withheld and Rs 5,452 Lac (excluding GST) has been the above , total amount of Rs 14,392 based on negotiation and discussion with one of the customers on the basi:; of higher protest. Pending settlement of the issue of use or pay charges, of Rs 6,538 lac (excluding GST) over and above commitments, net adjustment volumes achieved by the customer in the other contracts/ location, quarter. w.r.t. revenue booked in earlier periods had been recognized in the previous of COVID-19. as natural gas is declared as one The operations of the Company were not materially interrupted during the lockdown due to outbreak on the carrying amounts of property. the Government of India. The Company has evaluated the possible effects of the essential commodities by determined. basis the internal and external sources of information and plant and equipment, inventory. loans, receivables and debt covenants Considering the above, and the exercising reasonable estimates and judgements, that the carrying amounts of these assets are recoverable. and the Company will be able to meet its Company's healthy liquidity position, there is no uncertainty on the going concern of the Company financial obligations over the foreseeable future. period figures. Previous year/period figures have been regrouped and rearranged to make them comparable with current x der o~~rd Place : New Delhi ~ arMishra Director (Finance) Date : 09 February 2022 DlN: 08 1251 44 Page 3 of 8 T R Chadha & Co LLP Chartered Accountants Independent Auditor's Review Report on Quarterly and Year to date Unaudited Standalone Financial Results of Petronet LNG Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Petronet LNG Limited We have reviewed the accompanying Statement of unaudited standalone financial results of Petronet LNG Limited (the Company) for the quarter & nine months ended 31 st December, 2021 ("the statement"), being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). This statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" prescribed under section 133 of Companies Act 2013 ("the Act") read with relevant rules issued thereunder ('Ind AS') and other accounting principle generally accepted in India. Our responsibility is to express a conclusion on the statements based on our review. We conducted our review of the statement in accordance with the Standards on Review Engagement (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This standard require that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiry of company personnel and analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed any audit and accordingly, we do not express an audit opinion. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principle laid down in the applicable Indian Accounting Standard (Ind As) specified under Section 133 of Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement. For T R Chadha & Co LLP Chartered Accountants Firm Regn. No. 006711N / N500028 Hitesh Garg (Partner) Membership No 502955 UDIN - 22502955ABAMRZ5360 Date: 09 th February 2022 Place: New Delhi T R Chadha & Co., a partnership firm converted into T R Chadha & Co LLP (A limited liability partnership with LLP Identification No. AAF-3926) with effect from 28 th December, 2015 Corporate & Regd. Office: B-30, Connaught Place, Kuthiala Building, New Delhi - 110001 Page 4 of 8 Phone : 43259900, Fax : 43259930, E-mail : [email protected] Petronet LNG Limited Corporate Identity Number: L74899DL I998PLC093073 First Floor, World Trade Center, Babar Road, Barakhamba Lane, New Delhi I 1000 I Statement of llnaudited Consolidated financial results for quarter and nine months ended 31st December, 2021 (All amoun/s are Rupees in lac. unless o/henvise slated) Quarter Ended Nine month Ended Particulars 31-Dec-21 30-Sep-21 31-Dec-20 31-Dec-21 31-Dec-20 Un-audited Un-audited Un-audited Un-audited Un-audited Year Ended 31-Mar-21 Audited a. Revenue Revenue from Other income operations 12,59,722 10,81,308 7,32,823 32,00,820 7,192 7.587 9,967 21,636 18 ,44,758 30,993 26,02,290 35,908 Total Revenue 12,66,914 10,88,895 7.42,790 32,22,456 18,75,751 26,38,198 b. Expenses Cost of materials consumed Employee benefits expense Finance costs Depreciation and amotization expense Other expenses Total Expenses c. Profit before share of joint ventures, exceptional items and tax (a-b) d. Share of profit of equity-accounted investees, net of tax Profit before exceptional items and tax (c+d) Exceptional Items Profit/ (loss) before tax (e-f) h. Tax expense: Current tax Deferred tax Total tax expense A Profit/ (loss) for the oeriod (g-h) 10,69,495 9,26,015 5,84,337 27,29,465 3,560 5,619 3,433 13,468 7,757 7,944 8,150 23.704 19,364 19,358 19,249 57,883 13,484 20,003 11,524 49,880 11,13,660 9,78,939 6,26,693 28,74,400 1,53,254 1,09,956 1,16,097 3,48,056 1,612 49 1,497 5,303 1,54,866 1,10,005 1,17,594 3,53,359 - - - - 1,54,866 1,10,005 1,17,594 3,53,359 39,326 30,598 29,600 93,124 (406) (2,354) (211) (4,478) 38,920 28,244 29,389 88,646 1,15,946 81,761 88,205 2,64,713 14,39,983 20,68,150 10,416 14,711 25,466 33,595 58,126 78,409 33,514 49,475 15,67,505 22,44,340 3,08,246 3,93,858 438 1,893 3,08,684 3,95,751 - - 3,08,684 3,95,751 79,100 1,02,500 (547) (672) 78,553 1,01,828 2,30,131 2,93,923 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurement of defined benefit plans Income tax relating to remeasurement of defined benefit plans Share of.IV B Total other comprehensive income for the period C Total comorehensive income for the oeriod (A+ B) Paid-up Share Capital Other Equity Net Worth Earnings per equity share (Face value of Rs. 10/- each) Basic (Rs .) Diluted (Rs.) - - - - - - - - (2) (5) (6) (2) (5) - (6) 1,15,944 81,756 88,205 2,64,707 1,50,000 1,50,000 1,50,000 1,50,000 11,37,897 11,26,953 9,67,223 I 1,37,897 12,87,897 12,76,953 11,17,223 12,87,897 7.73 5.45 5.88 17.65 7.73 5.45 5.88 17.65 nm an nualised) - (380) - 96 (41) - (325) 2,30,131 2,93,598 1,50,000 1,50,000 9,67,223 10,30,690 11,17,223 11,80,690 15.34 19.59 15.34 19.59 ( annualised) Page 5 of 8 This is an excerpt of the original content. To continue reading it, access the original document here .

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