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Informist, Monday, May 19, 2025

 

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--Power Grid Jan-Mar net profit INR 43.36 bln 
--Analysts saw Power Grid Jan-Mar net profit INR 43.29 bln 
--Power Grid Jan-Mar net profit INR 43.36 bln vs INR 41.28 bln year ago 
--Power Grid Jan-Mar revenue INR 109.83 bln vs INR 110.51 bln year ago 
--Power Grid Jan-Mar operating margin 96% vs 94% year ago 
--Power Grid FY25 revenue INR 414.31 bln vs INR 423.91 bln year ago 
--Power Grid FY25 net profit INR 153.54 bln vs INR 154.75 bln year ago 
--Power Grid to pay INR 1.25 per share final dividend for FY25 
 

 

By Anand JC

 

MUMBAI – Power Grid Corp. of India Ltd. late Monday disclosed its March quarter earnings, with its bottom line registering a single-digit year-on-year growth and beating consensus estimates while its top line missed the Street's expectations and fell marginally on year.

 

Power Grid reported a net profit of INR 43.4 billion for the latest quarter, 5.1% higher than the year-ago quarter. Analysts had estimated a bottom line of INR 43.3 billion. Sequentially, its net profit grew 11%. 

 

The state-run power transmission company's revenue for the reporting quarter was INR 109.8 billion, down a tad from INR 110.5 billion in the base quarter. Its top line missed analysts' estimate of INR 118.1 billion. The company's other income grew nearly 25% on year to INR 15 billion. 

 

Power Grid's revenues come from two segments--transmission and consultancy. Power Grid's transmission business, accounting for 97% of its revenue, earned an income of INR 109 billion for the March quarter, down nearly 2% on year. Income from consultancy operations was INR 2.98 billion, 45% higher than it earned in the base quarter. 

 

The company incurred overall expenses of INR 73.9 billion for the latest quarter, up around 5% on year. Depreciation and amortisation expenses, which constitute a little over 41% of Power Grid's total expenses, contracted 2.4% on year to INR 30.4 billion. Finance costs, which form around 35% of its total costs, grew a staggering 28% on year to INR 25.9 billion for the reporting quarter. 

 

Staff costs grew 19%, as the company incurred INR 7.6 billion on employee benefits expense. Other expenses fell 21% on year to INR 10 billion. Its tax expenses for the March quarter were INR 8.1 billion, 11% lower than in the corresponding period a year ago.

 

Net profit margin for the March quarter increased 200 basis points to 39%. Similarly, its operating margin, i.e., earnings before interest, depreciation, tax/revenue from operations grew 200 bps on year to 96% for the latest quarter. 

 

For 2024-25 (Apr-Mar), the company reported a net profit of INR 153.5 billion, down marginally from FY24. Its revenue for the previous financial year was INR 414.3 billion, down 2.3% from FY24.  

 

Power Grid's board approved paying a final dividend of INR 1.25 for FY25. This dividend will be paid within 30 days from the date of declaration of its annual general meeting, it said. During the board meeting on Monday, the company also approved selling its entire stake in Torrent Power Grid Ltd., its joint venture with Torrent Power Ltd. The company will also sell its entire stake in Sikkim Power Transmission Ltd., its joint venture with Sikkim Urja Ltd.

 

The company disclosed its March quarter earnings after the market closed. Its shares ended Monday's session 1.3% higher on the National Stock Exchange, at INR 304.05 a piece.  End

 

Edited by Vandana Hingorani

 

 

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