Shares of
Power Grid Corporation of India slumped 3% on the BSE. The net profits in the Mar-21 were up 6.42% at Rs322.22cr helped along by a sharp cut in finance charges and other expenses. Actually, the profit growth would have been much more impressive had it not been for the unfavourable net movement in regulatory deferral balances in the Mar-21 quarter.
The stock is currently trading at Rs232.70 down by Rs7 or 2.92% from its previous closing of Rs239.70 on the BSE.
Power Grid declared a final dividend of Rs3 per share taking the total dividend for FY21 to Rs.12 per share.
The revenue rose 3.57% to Rs10510.23cr in the quarter ended March 2021 as against Rs10148.26cr during the previous quarter ended March 2020.
On a sequential basis, net sales revenues were up 3.63% compared to total revenues in the Dec-20 quarter at Rs10,142cr.
Full year revenues for FY21 were 5.02% higher at Rs39,640cr. In terms of verticals, the largest transmission vertical saw 2.7% growth yoy while the consultancy and telecom verticals reported flat revenues. Debt equity lowered in the quarter leading to interest coverage improving from 3.79 to 4.26.