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Power Grid’s March quarter (Q4) performance, announced after market hours on Tuesday, saw earnings grow at a moderate pace, partly due to exceptional items. Yet, its share price gained 1.1 per cent on Wednesday.
The optimism stems from analyst expectations of a pick-up in asset capitalisation and capital expenditure (capex) by India’s largest power transmission company. Capitalisation refers to commercial start of a project. Fear of slow growth in capitalisation was one reason for the stock lagging in the second half of 2017-18.
Net profit for FY18 grew 10 per cent over a year, weighed down by employee-related provisions of
