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Informist, Thursday, Aug. 6, 2026

 

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--Power Grid Apr-Jun net profit INR 34.11 bln
--Analysts saw Power Grid Apr-Jun net profit at INR 38.98 bln 
--Power Grid Apr-Jun revenue INR 97.95 bln
--Analysts saw Power Grid Apr-Jun revenue at INR 122.85 bln
--Power Grid Apr-Jun net profit INR 34.11 bln vs INR 36.53 bln year ago
--Power Grid Apr-Jun revenue INR 97.95 bln vs INR 99.28 bln year ago
--Power Grid Apr-Jun transmission sales INR 97.04 bln vs INR 98.84 bln yr ago
--Power Grid Apr-Jun consultancy sales INR 2.27 bln vs INR 1.98 bln yr ago
--Power Grid Apr-Jun operating margin 97% unchanged on year
--Power Grid to reconduct two circuit lines in Tamil Nadu for INR 8.57 bln

 

By Sunil Raghu

 

AHMEDABAD – Power Grid Corp. of India Ltd.'s bottom line and top line for the June quarter fell year-on-year and were below the analysts' estimate. What helped the state-run power transmission company clock a net profit was that its costs stayed almost flat compared with June quarter last financial year, led by a fall in other expenses.

 

The state-run power transmission company reported a net profit of INR 34.11 billion for the June quarter, down nearly 7% on year from INR 36.53 billion. The street had expected Power Grid's net profit to rise 7% to INR 38.98 billion.

 

Power Grid's revenue for the quarter fell a little over 1% on year to INR 97.95 billion from INR 99.28 billion in the June quarter a year ago. Analysts had expected the top line to rise to INR 122.85 billion. From the trailing quarter, the company's net profit fell over 25%, and its revenue was down nearly 2%. 

 

The street had expected Power Grid to report a sharp year-on-year growth in revenues for the June quarter on the back of high demand for power due to a delayed monsoon. However, the bottom-line growth was seen relatively muted, despite commissioning of projects and asset capitalisation, due to continued capital expenditure.

 

India's biggest electric power transmission utility company was expected to report a net profit rise of 7% on year, and its revenues for the reporting quarter were expected to jump nearly 24% on year.

 

State-owned Power Grid carries over 45% of the total power generated in the country. The Maharatna enterprise owns and operates around 84% of India's inter-state transmission system network, through which it transmits electricity across states. As of Jun. 30, the company's transmission network stood at over 185,000 circuit kilometres.

 

Power Grid's total expenses for the three-month period rose less than 1% on year to INR 71.24 billion. Power Grid's other expenses during the June quarter saw a fall of over 13% on year to INR 10.18 billion. Its finance costs, which accounted for a little more than a third of the total expenses, rose over 9% on year to over INR 25 billion in the June quarter. Depreciation and amortisation expenses, which account for around 40% of the total expenses, were down nearly 2% on year at INR 29.25 billion. Its expenses towards employee benefits rose over 5% on year to nearly INR 7 billion.

 

Revenue from Power Grid's transmission business, which accounts for an overwhelming majority of its total revenue, fell nearly 2% on year to tad over INR 97 billion in Jan-Mar. Meanwhile, income from consultancy operations rose nearly 15% on year to over INR 2 billion during the quarter. The operating margin remained unchanged on year at 97%. The company reported a tax expense of a little over INR 7 billion, down less than 1% compared to a tax outgo of in the June quarter of FY26.

 

Separately, a committee of directors on investment on projects of Power Grid, on Wednesday, accorded approval for project of reconductoring of Tirunelvelli-Udumalpet and Pugalur-Madhurai 400 kilo volt direct current lines with high tension low Sag (falling) conductor to be booked under additional capital expenditure at an estimated cost of INR 8.57 billion, and scheduled to be commissioned by Feb. 11, 2028.

 

At 0916 IST, shares of Power Grid traded 1.5% lower at INR 277.60 on the National Stock Exchange. The company announced its earnings Wednesday after market hours.  End

 

Edited by Akul Nishant Akhoury

 

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