Power Grid Q3 profit jumps 26% to Rs 3,367.7 crore; transmission business records growth
Revenue from operations in Q3FY21 increased 8.3 percent to Rs 10,142.5 crore, compared to Rs 9,364.4 crore in the corresponding period of the previous year.
February 11, 2021 / 07:55 PM IST
State-owned power transmission company Power Grid Corporation of India on February 11 reported a 26 percent year-on-year growth in consolidated profit at Rs 3,367.7 crore. The lower finance cost and higher revenue lifted profitability.
Revenue from operations in Q3FY21 increased 8.3 percent to Rs 10,142.5 crore, compared to Rs 9,364.4 crore in the corresponding period.
At the operating level, its earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 8.1 percent to Rs 8,914.5 crore compared to same period last year. But EBITDA margin contracted to 87.9 percent in Q3FY21, from 88.1 percent in the corresponding period.
Its transmission business, the main segment of the company, recorded a 9.3 percent year-on-year growth in revenue at Rs 10,042.97 crore in the quarter ended December 2020. Its earnings before interest and tax (EBIT) grew by 11.5 percent to Rs 6,417.49 crore YoY in same period.
The telecom segment registered a 4.5 percent year-on-year growth in revenue at Rs 206.85 crore, but consultancy segment showed a 14.8 percent year-on-year decline at Rs 122.69 crore in Q3FY21.