MUMBAI, 9 Feb, 2017 ( GPN) : Power Grid Corporation of India Ltd Q3FY17 standalone results for the quarter registered a beat on consensus estimates. Revenue for the quarter came in 0.5 % higher than the estimated figure of Rs. 6596 crore. EBITDA for the quarter came in 1.2 % higher than the estimated figure of Rs. 5890 crore. And lastly, net profit for the quarter came in 2.7 % higher than the estimated figure of Rs. 1880 crore.
Power grid Corporation of India Ltd’s. standalone revenue for the quarter came in at Rs. 6630 crore, registering 23.5% yoy increase. This was primarily driven by increase in transmission segment revenues by 23% yoy to Rs.6411.2 crore.
EBITDA for the quarter rose by 24.5% yoy to Rs. 5959 crore with a corresponding margin expansion of 70 bps. EBITDA margin for the quarter stood at 89.9%.
The PAT for the quarter came in at Rs.1930 crore, yoy increase of 20.2%. This was due to increase in other income by 47% yoy to Rs. 157 crore.
Technical View:
Power Grid Corporation of India Ltd ended at Rs. 202.05, up by 0.95 points or 0.47% from its previous closing of Rs. 201.1 on the BSE.
The scrip opened at Rs. 203.3 and touched a high and low of Rs. 205.5 and Rs. 201 respectively. A total of 7644803(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.ENDS.
Power Grid Corporation of India Q3 FY17 standalone net profit rises 20.2% yoy to Rs 1,930 crore
