Power Grid Corporation Of India posted its earnings for the quarter ended June late on Friday evening
What Happened: The PSU’s net profit for the June quarter came in at ₹3,723.92 crore, an increase of around 3.5% compared to the ₹3,597 crore posted in the same quarter last. The company’s revenue for the June quarter stood at ₹11,006 crore, almost flat compared to the ₹11,048 crore posted in the corresponding quarter of the previous year.
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Revenue from the transmission business stood at ₹10,727.97 crore, slightly lower than the ₹10,829 crore reported during the same quarter last year. EBITDA for the quarter stood at ₹9,602 crore, with an EBITDA margin of 87.2%.
Earlier this week, S&P Global reaffirmed its ‘BBB-‘ rating for Power Grid Corporation. The ratings agency believes that Power Grid possesses the financial strength to manage increased capital expenditure (capex) and dividend payouts over the next three years. It anticipates the company's funds from operations (FFO) to debt ratio to rise to 24%-27% over fiscal years 2025-2027.
Price Action: Power Grid’s share price was up 1.40% to close at ₹344.20 on Friday.
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