The stock’s fall on Wednesday had more to do with the overall market weakness. Domestic gas shortages maintain a strong positive outlook for the company, which means long-term investors should continue to hold. Petronet’s volumes for the March 2011 quarter jumped 37% to 125 trillion British thermal units (TBTUs).
In addition, the 5% increase in the regassification charges implemented every January helped the company boost its quarterly revenues 67% to Rs 3,986 crore. The positive effect of a minor increase in operating profit margin was offset by a fall in other income as the PBDIT stood 63% up year-on-year to Rs 382.7 crore.