Power Grid Corporation of India Ltd. posted a better-than-expected net profit beating analyst expectations in the three months ended September.
The state-owned power transmission company's net profit in the second quarter rose 14.4 percent over the last year to Rs 2,141 crore, according to the company's stock exchange filing. The consensus estimate of analysts tracked by Bloomberg had pegged the profit at Rs 2,129.3 crore.
The bottom line rose despite a 19 percent increase in total expenses led by an increase in the cost of employee benefits by 28.79 percent to Rs 328.83 crore according to the exchange filing.
Revenue from operations increased 16 percent to Rs 7,250 crore, in the same period. This was lower than the Bloomberg consensus estimate of Rs 7,376.6 crore.
Earnings before income, tax, depreciation, and amortization was 15.6 percent higher at Rs 5,604 crore. The operating margin contracted 30 basis points from last year to 89.3 percent.
Segmental Revenue
- Transmission: Increased 15.78 percent to Rs 7,063.42 crore
- Consultancy: Declined 24.87 percent to Rs 115.85 crore
- Telecom: Increased 21.26 percent to Rs 173.78 crore
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