Power Grid Corporation of India Ltd (PGCIL) on July 26 reported a consolidated net profit of Rs 3,723.92 crore for the first quarter of financial year 2024-25, up three percent from Rs 3,597.16 crore a year ago.
Revenue from operations were flat in the quarter at Rs 11,006.18 crore, compared to Rs 11,048.13 crore in the corresponding quarter last year.
According to Bloomberg estimates, Power Grid was expected to report around 8.4 percent year-on-year (YoY) increase in revenue at Rs 11,978 crore in Q1FY25 over Rs 11,048.1 crore in Q1FY24. Net profit was also expected to grow to Rs 4,028.2 crore in the quarter ending June 2024 compared to Rs 3,382.8 crore in the quarter ending June 2023.
Currently, around 13 brokerages have buy calls on the stock and eight have sell calls.
The company's earnings before interest, tax, depreciation, and amortization (EBITDA) marginally increased to Rs 9,904.9 crore in the quarter ending June 30 from Rs 9,889.98 crore in the year-ago period.
The company's transmission business saw marginal fall in revenues to Rs 10,727.97 crore in the quarter from Rs 10,829.67 crore during the same period last year. Profit from the transmission business came in at Rs 6,305.61 crore.
Similarly, revenues from its telecom business rose to Rs 245.84 crore from Rs 212.19 crore, while profit from the segment stood at Rs 109.09 crore. Power Grid's consultancy segment saw revenues at Rs 184.21 crore.
The company's shares closed 1.50 percent higher at Rs 344.30 on the NSE on July 26.
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