Q1FY24 Preview: Power Grid Corporation of India: Revenue seen at Rs. 121,626 million, PAT at Rs. 41,665 million

29 Jul 2023 , 04:57 PM

Result date: 31^st July, 2023

Recommendation: Buy 

Target price: Rs. 260

(Source: IIFL Capital Services)

Power Grid Corporation of India (Power Grid) could post healthy growth in revenue over the year-ago quarter amid strong asset capitalization. The company could clock in asset capitalization of Rs. 26 billion for the June 2023 quarter, aligned to its full-year guidance of Rs. 100 billion. This could drive 11.35% growth in revenue over the year-ago quarter.

EBITDA performance is also expected to be good, along with stable margins.

The company’s Profit After Tax or PAT could grow 10.7% over the year-ago quarter.

A high base of March 2023 quarter could have a bearing on Power Grid’s sequential performance during the quarter.

Rs. Million	June 2023 estimates	YoY change	QoQ change
Revenue	121,626	11.35%	(0.70)%
EBITDA	107,797	16.25%	(0.95)%
Profit After Tax	41,665	10.70%	(3.80)%

Source: Brokerage Reports