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  • For the quarter ended Dec 18, net sales of Power Grid stood at Rs 8471.17 crore up by 13% YoY. Net revenue from Transmission business, which constitutes around 96% of total revenue, was up 13% to Rs 8271.85 crore and PBIT and the same was up by 11% to Rs 4762.62 crore with PBIT margin at 57.6%. Net revenue from consultancy service business which constitute around 2% of total sales was up by 9% to Rs 156.08 crore and PBIT was lower by 15% to Rs 67.70 crore. Telecom income which constitutes around 2% of total sales was up by 13% YoY to Rs 8624.11 crore while PBIT was up by 38% to Rs 108.70 crore with PBIT margin at 55.4%.

    OPM was lower by 90 bps to 87.5% resulting OP being up by 12% to Rs 7409.83 crore. Other income was up by 51% to Rs 419.04 crore. Interest costs were up by 16% to Rs 2275.29 crore. Depreciation was up by 12% to Rs 2604.74 crore resulting PBT of Rs 2948.84 crore, up by 12% YoY. After paying total tax of Rs 617.67 crore, up by 3% YoY, PAT for Dec 18 quarter stood at Rs 2331.17 crore, up by 8% YoY.

    Performance for the 9 months ended Dec 18

    For the 9 months ended Dec 18, net sales of Power Grid stood at Rs 24881.30 crore up by 13% YoY.

    Net revenue from Transmission business, which constitutes around 96% of total revenue, was up 14% to Rs 24333.38 crore. Net revenue from consultancy service business was down by 5% to Rs 446.65 crore. Telecom income was up by 9% YoY to Rs 549.3 crore. PBIT from Transmission business was up by 13% to Rs 14210.90 crore with PBIT margin at 58.4%, that of Consultancy was down by 31% to Rs 209.87 crore. PBIT of Telecom was up by 17% to Rs 292.53 crore on YoY basis with PBIT margin at 53.3%

    OPM was lower by 60 bps to 88.1% resulting OP being up by 13% to Rs 21923.70 crore. Other income was up by 55% to Rs 1126.53 crore. Interest costs were up by 20% to Rs 6725.43 crore. Depreciation was up by 14% to Rs 7603.63 crore resulting PBT of Rs 8721.17 crore, up by 10% YoY. After paying total tax of Rs 1839.97 crore, up by 9% YoY, PAT for 9 months ended Dec 18 stood at Rs 6881.20 crore, up by 10% YoY.

    Other updates

    The company has added 2,915 circuit kilometre of transmission lines, 4 number of substations and 30,681 MVAs transformation capacity during the 9 months ended 31st December, 2018.

    Current CWIP stood at Rs 30262 crore includes Rs 5970 crore CWIP housed in TBCB subsidiaries.

    The debt equity stood at 70:30

    Aims to do a capitalization of Rs 26000 crore worth of projects in FY 19.

    Power Grid Corporation of India: Results

     

    1812(03)1712(03)Var. (%)1812(09)1712(09)Var. (%)1803 (12)1703 (12)Var. (%)
    Sales8471.177506.951324881.3021941.141329752.4625710.0716
    OPM (%)87.588.488.188.787.988.2
    OP7409.836636.411221923.7019462.271326144.9022669.7615
    Other income419.04278.09511126.53726.25551013.86866.6317
    PBIDT7828.876914.501323050.2320188.521427158.7623536.3915
    Interest2275.291955.45166725.435585.15207590.666303.8320
    PBDT5553.584959.051216324.8014603.371219568.117232.5614
    Depreciation2604.742318.60127603.636684.75149091.257662.819
    PBT2948.842640.45128721.177918.621010476.859569.769
    Prior Period (PP) Exp0.000.0000.000.000000
    PBT after PP2948.842640.45128721.177918.621010476.859569.769
    Tax617.67599.6231839.971684.3492237.892049.619
    PAT2331.172040.83146881.206234.28108238.967520.1510
    EPS (Rs)*####15.714.4
    * on current equity of Rs 5231.59 crore of face value of Rs 10 each
    EPS is calculated after excluding EO and relevant tax
    # EPS can not be annualised due to seasonality in operations
    Figures in Rs crore
    Source: Capitaline database

    Power Grid: Segment Results

     

    1806(03)1706(03)Var. (%) % to Total1803 (12)1706(03)Var. (%) % to Total1803 (12)
    Transmission business8271.857322.69139624333.3821316.56149628835.41
    Consultancy156.08143.3692446.65471.18-52668.38
    Telecom Services196.18174.27132549.3505.7192678.41
    Others00.000000.00000.00
    Total revenue8624.117640.321310025329.3322293.451410030182.20
    Less :- inter segment17.3316.45568.2016.4531568.20
    Net sales8606.787623.871325261.13222771330114.00
    Segment Result
    Transmission business4762.624275.23119614210.912521.35139716669.10
    Consultancy67.779.56-151209.87306.19-311431.68
    Telecom Services108.7778.96382292.53251.08172314.41
    Others00.0000.000.00
    Total4939.094433.751110014713.3013078.621210017415.19
    Less: Interest2275.291955.45166725.435585.15207590.66
    Other Unallocable Items285.04162.1576733.3425.1572652.32
    PBT2948.842640.45128721.177918.621010476.85
    Figures In Rs Crore, Source: Capitaline Databases
    LP:Loss to Profit, PL: Profit to Loss

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