Weak earnings, slow execution play spoilsport for Power Grid Corporation

The company has set a capex target of ₹23,000 crore and a capitalisation goal of ₹18,000 crore for FY25

Power Grid Corporation of India’s (PWGR’s) Q3FY25 revenue declined 3 per cent year-on-year (Y-o-Y) to ₹11,200 crore, with operating profit falling 7 per cent Y-o-Y to ₹9,500 crore and margin contracting to 85 per cent from 91 per cent Y-o-Y. Other income surged 89 per cent Y-o-Y to ₹500 crore, but regulatory income dropped 62 per cent Y-o-Y to ₹42.5 crore. Profit before tax (PBT) grew 4 per cent Y-o-Y to ₹4,900 crore, but higher taxes, up 38 per cent Y-o-Y to ₹1,100 crore, led to a 4 per cent Y-o-Y decline in net profit to ₹3,900 crore.

 

The company