Power Grid Corporation of India Ltd's Q1FY20 consolidated net profit rises 9.9% yoy to Rs2,502.8cr : In-line with Estimates

The company’s consolidated revenue stood at Rs9,179.6cr, up 11.3% yoy but down 3.7% qoq.

August 02, 2019 5:12 IST | India Infoline Research Team

Power Grid Corporation of India Ltd Q1FY20

Consolidated Results Q1FY20: (Rs. in cr)

Q1FY20 YoY (%)
Revenue 9,179.6 11.3
EBITDA 8,268.5 17.2
EBITDA Margin (%) 90.1 456
Net Profit (reported) 2,502.8 9.9
***EBITDA margin change is bps
Power Grid Corporation of India Ltd (PGCIL) reported broadly in-line result with the estimate. Revenue for the quarter grew by 11.3% yoy to Rs9,179.6cr. EBITDA stood at Rs8,268.5cr, up 17.2% yoy with EBITDA margin of 90.1%, a 456bps yoy expansion. Net profit stood at Rs2,502.8cr.
  • EBITDA margin for the quarter witnessed 456bps yoy expansion aided by similar decline in the other expenes.
  • Depreciation and interest costs were up by 11.4% and 12.7% yoy.
  • Revenue from JV declined by 14.5% yoy to Rs29.3cr.
  • Other income during the quarter jumped by 44.2% yoy to Rs182.1cr.
Segmental Performance
Segment Revenue yoy (%) EBIT yoy (%) EBIT Margin (%) EBIT Margin yoy (bps)
Transmission        9,044          12.2        5,510          -1.6                   61                          -857
Consultancy           126         -16.9            41         -50.9                   32                       -2,227
Telecom           194           1.4           106          -0.1                   55                           -86

Technical View:

Power Grid Corporation of India Ltd ended at Rs. 210.35, down by 3.7 points or 1.73% from its previous closing of Rs. 214.05 on the BSE.
The scrip opened at Rs. 213.10 and touched a high and low of Rs. 213.90 and Rs. 208.60 respectively. A total of 1,20,33,240 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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