Confidence Petroleum's Q3 FY18 PAT Grows 139% y-o-y to INR

70.89 Million

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Confidence Petroleum's Q3 FY18 PAT Grows 139% y-o-y to INR 70.89 Million

MUMBAI and NAGPUR, India, February 15, 2018/PRNewswire/ -- - 9M FY18 PAT at INR 174.4 million, up by 239% y-o-y

- Sets up 11 Auto LPG Dispensing Stations during Q3

- Rolls out Nation-wide distribution plan for GoGas Elite - Composite LPG Cylinders

Confidence Petroleum India Limited, India's largest LPG cylinder manufacturer and one of the leading private sector LPG retailers, reported its financial results for the third quarter and nine months ended on December 31, 2017 as approved by its Board of Directors. Financial Highlights - Q3 FY2018 Consolidated

Revenue from operations at INR 1479.6 million, up by 19% EBITDA (including other income) at INR 189.6 million, up by 45% Profit after tax at INR 70.89 million, up by 139%

Financial Highlights - 9M FY2018 Consolidated

Revenue from operations at INR 4220.39 million, up by 24.36% EBITDA (including other income) at INR 520.14 million, up by 56.2% Profit after tax (after minority interest and before other comprehensive income) at INR 174.48 million, up by 239% Earnings per share for nine months ended on December 31, 2017 stood at INR 0.67

Commenting on the performance Mr. Nitin Khara, Chairman and Managing Director, Confidence Petroleum said, "Confidence is firmly poised for a rapid growth. The demand for LPG cylinders and Auto LPG increasingly improved performance reported by our retail LPG brand GoGas has helped us post encouraging performance."

"Under Pradhan Mantri Ujjwala Yojna (PMUY) launched in May 2016 provided for a total of 50 million free LPG connections to BPL families. The recent budget proposals have expanded the scope of this Yojna to 80 million families. Confidence will suitably work on the capacity expansion given the increased demand for LPG cylinders going forward," Added Mr. Khara.

Segment-wise Business Highlights - Q3 FY2018

Cylinder Manufacturing - contributed 35.42% to Q3 FY2018 consolidated revenue

Revenue of INR 524.19 million, down 18% over corresponding Q3 FY17 The order book position as on December 31, 2017 stood at INR 3053.3 million Retail LPG - contributed 64.58% to Q3 FY2018 consolidated revenue

Revenue of INR 955.47 million, up 58% over corresponding Q3 FY17 Confidence Petroleum markets LPG under the brand name GoGas The company is one of the largest private sector players in Auto LPG Dispensary Stations. During Q3, the company set up 11 ALDs The company now has 121 operational ALDS and has all the requisite permission to set up total 200 ALDs which it plans to set up by 2019 LPG in Composite Cylinders for domestic & commercial usage

During Q3, the company through its subsidiary, Confidence Futuristic Energetech Limited, launched Composite LPG Gas Cylinders under the brand 'GoGas Elite' for domestic and commercial segments. These cylinders are available in convenient sizes of 2, 5, 10 and 20 kgs.

GoGas Elite composite cylinders weigh approximately 50% less than a conventional steel cylinder. These composite cylinders are blast-proof and therefore much safer. Besides, Composite Cylinders allow consumers to monitor the gas level helping them to keep track of the gas consumption and the replacement time, resulting into zero wastage.

Confidence has rolled out a plan to set up nation-wide network of distributors for GoGas Elite which will find an immediate acceptability amongst urban households and the HORECA (Hotels, Restaurants & Cafes) segment. Recently, the company launched GoGas Elite in Mumbai. Talking about the new composite cylinder, Mr. Khara said, "GoGas Elite cylinders are not only aesthetically appealing but also has tangible benefits as they are light-weight, rust -proof and most importantly, blast-proof, thereby reducing chances of further devastation in untoward incidences such as fire. Confidence is proud to make composite LPG cylinders available to consumers, both domestic as well commercial."

About Confidence Petroleum India Limited:

Confidence Petroleum India Limited (BSE: 526829) is India's leading private sector Liquefied Petroleum Gas (LPG) retailer. The company markets LPG under the brand name 'GoGas' and has 121 Auto LPG Dispensing Stations as on 15.02.2018, spread over Tamil Nadu, Karnataka, Telangana and Maharashtra. The company has recently introduced light-weight and blast-proof composite LPG cylinders under the brand name 'GoGas Elite' for the domestic and commercial LPG use. Confidence Petroleum is India's largest manufacturer of LPG Cylinders with a capacity of manufacturing 5 million units per annum. The company has pan-India presence with 15 cylinder manufacturing units and 58 bottling plants across India.

For More Information, Please Contact: Confidence Petroleum India Limited CA Nirali Sanghvi +91-7447426379 niralisanghvi@confidencegroup.co

Dickenson Financial PR Mehul Mehta +91-98202-80325 mehul.mehta@dickensonir.com

Source: Confidence Petroleum India Limited PRNewswire OSS