Feb 12, 2013, 03.16 PM | Source: Moneycontrol.com
State-owned Power Grid Corporation of India's net profit grew by 39.5 percent year-on-year (higher-than-expected) to Rs 1,129 crore in the third quarter of financial year 2012-13.
Net sales too came in above expectations, rising more than 36 percent to Rs 3,362 crore from Rs 2,467 crore during the same period.
Numbers were good on all parameters. Analysts on an average were expecting net profit at Rs 1,015 crore and net sales at Rs 3,152 crore for the quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 39 percent YoY to Rs 2,923 crore while EBITDA margin improved 180 basis points year-on-year to 87 percent in October-December quarter.
Analysts had expected EBITDA at Rs 2,727 crore and margin at 86.5 percent.
Other income increased to Rs 128 crore from Rs 109 crore YoY.
At 12:52 hours IST, shares jumped 2 percent to Rs 114.50 amid large volumes on Bombay Stock Exchange.
Trading volumes moved up over 2 times to 4,09,541 equity shares as against five day average of 1,90,804 shares.
Axis Direct recommended hold rating on Power Grid
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