Power Grid Corp.'s consolidated net profit fell 4.13% in the third quarter of the current financial year, missing analysts' estimates.
The state-run power transmission major's posted a profit of Rs 3,861.6 crore in comparison to Rs 4,028.5 crore in the year-ago period, according to an exchange filing on Monday. Analysts tracked by Bloomberg had set a consensus estimate of Rs 4,031 crore.
Power Grid Q3 FY25 Highlights (Consolidated, YoY)
Revenue down 2.75% to Rs 11,233 crore versus Rs 11,549.8 crore (Bloomberg estimate: Rs 11,876 crore).
Ebitda down 6.61% to Rs 9,538 crore vs Rs 10,212.9 crore (Estimate: Rs 10,272 crore).
Margin narrows 351 basis points to 84.91% vs 88.42% (Estimate: 86.5%).
Net profit down 4.13% to Rs 3,861.6 crore vs Rs 4,028.3 crore (Estimate: Rs 4,031 crore)
Power Grid's top line fell as its transmission segment, which contributes over 95% of the company's total revenue, saw a 1.5% decline.
The earnings before interest, taxes, depreciation and amortisation was under pressure due to a 51% increase in other expenses, while its bottom line was impacted by a Rs 208.6-crore deferred tax expense.
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