Power Grid Corporation Of India Q1FY18 Standalone Net Profit Rises 13.9% Yoy : In-line With Estimates

Power Grid Corporation Of India Q1FY18 Standalone Net Profit Rises 13.9% Yoy : In-line With Estimates

Power Grid Corporation’s Q1FY18 standalone results for the quarter were largely in-line with street estimates. Revenue for the quarter came in 1% higher than the estimated figure of Rs. 7108 crore. EBITDA for the quarter came in 0.1% lower than the estimated figure of Rs. 6208 crore. And lastly, net profit for the quarter came in 0.3% lower than the estimated figure of Rs. 2058 crore.

Power Grid Corporation standalone revenue for the quarter came in at Rs. 7181.3 crore, registering 17.4% yoy increase. This was primarily driven by revenue growth in transmission, consultancy and telecom segment by 16.5% yoy, 74.4% yoy and 28.7% yoy, respectively.

EBITDA for the quarter rose by 14.4% yoy to Rs. 6200.3 crore with a corresponding margin contraction of 222 bps. EBITDA margin for the quarter stood at 86.3%. This margin contraction was led by increase in employee benefits expense by 48.7% yoy and other expenses by 34.7% yoy.

The PAT for the quarter came in at Rs. 2052.4 crore, yoy increase of 13.9%.

Technical View:

Power Grid Corporation of India Ltd is currently trading at Rs. 224.25, up by 1.2 points or 0.54% from its previous closing of Rs. 223.05 on the BSE.
The scrip opened at Rs. 224.45 and has touched a high and low of Rs. 225.35 and Rs. 221 respectively. So far 89,30,795(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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