Power Grid Profit Up 5% In March Quarter; Clears JV Stake Sale

Power Grid Corp of India Ltd reported a net profit of ₹43.4 billion for the March quarter, up 5.1% year on year and slightly beating analyst expectations of ₹43.3 billion. Sequentially, net profit rose 11%. Revenue fell marginally to ₹109.8 billion from ₹110.5 billion a year earlier, missing estimates of ₹118.1 billion.

The company’s other income grew nearly 25% year on year to ₹15 billion. Transmission, its main business contributing 97% of revenue, earned ₹109 billion, down nearly 2% on year. Consultancy income rose 45% to ₹2.98 billion.

Overall expenses increased 5% to ₹73.9 billion. Depreciation and amortisation fell 2.4% to ₹30.4 billion, while finance costs surged 28% to ₹25.9 billion. Staff costs rose 19% to ₹7.6 billion and other expenses fell 21% to ₹10 billion. Tax expenses declined 11% to ₹8.1 billion.

Net profit margin improved 200 basis points to 39%, while operating margin rose 200 basis points to 96%.
For the full year 2024-25, Power Grid posted a net profit of ₹153.5 billion, slightly down from the previous year. Revenue was ₹414.3 billion, down 2.3%.

The board approved a final dividend of ₹1.25 per share for 2024-25, payable within 30 days of the annual general meeting. The company also approved selling its entire stakes in joint ventures Torrent Power Grid Ltd and Sikkim Power Transmission Ltd.