Power Grid Corp inches up after Q4 results

Power Grid Corporation of India rose 0.62% to Rs 113.20 at 12:28 IST on BSE after net profit rose 7.5% to Rs 1109.44 crore on 8.8% growth in net sales to Rs 3373.76 crore in Q4 March 2013 over Q4 March 2012.

The Q4 result was announced after market on Tuesday, 28 May 2013.

Meanwhile, the S&P BSE Sensex was down 53.87 points or 0.27% at 20,106.95.

On BSE, 55,000 shares were traded in the counter as against average daily volume of 2.06 lakh shares in the past one quarter.

The stock hit a high of Rs 113.80 and a low of Rs 112.20 so far during the day. The stock had hit a 52-week high of Rs 124.45 on 5 September 2012. The stock had hit a 52-week low of Rs 101.20 on 22 March 2013.

The stock had underperformed the market over the past one month till 28 May 2013, gaining 2.6% compared with the Sensex's 4.53% rise. The scrip had, however, outperformed the market in past one quarter, jumping 7.97% as against Sensex's 6.89% gain.

The large-cap company has equity capital of Rs 4629.73 crore. Face value per share is Rs 10.

Power Grid Corporation of India's (PGCIL) net profit surged 30.1% to Rs 4234.50 crore on 26.6% growth in net sales to Rs 12709.45 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

On consolidated basis, PGCIL's net profit jumped 30.6% to Rs 4312.61 crore on 27.2% growth in net sales to Rs 13115.50 crore in FY 2013 over FY 2012.

PGCIL said that out of the proceeds of follow on public offer (FPO) made in FY 2011, a sum of Rs 750 crore was utilised in FY 2013 for part financing of capital expenditure on the projects specified for utilization resulting in complete utilisation of funds amounting to Rs 3721.17 crore raised through FPO.

State-run PGCIL was incorporated in 1989 for transmission of electric power across the country. The Government of India (GoI) holds 69.42% stake in the company (as per the shareholding pattern as on 31 March 2013).

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