Power Grid Corporation of India is expected to report a 20.1 percent growth (year-on-year) in profit at Rs 1,251 crore for October-December quarter, according to a CNBC-TV18 poll.
Power Grid Corporation of India is expected to report a 20.1 percent growth (year-on-year) in profit at Rs 1,251 crore for October-December quarter, according to a CNBC-TV18 poll.
Total income of the state-run electric utility company may increase 18.2 percent to Rs 4,353 crore in December quarter from Rs 3,685 crore in same quarter last fiscal.
Operating profit (EBITDA) may jump 21 percent year-on-year to Rs 3,759 crore and margin may expand 200 basis points to 86.3 percent in the quarter gone by.
Analysts are factoring in a positive surprise on the earnings, aided by aggressive capitalisation of Rs 9,600 crore in April-September period of FY15.
Company may continue to deliver strong earnings on strong execution and strong commissioning of assets during the last one year.
Capitalisation may be healthy on significant uptick in capital work in progress (CWIP). Sharp uptick in capitalisation may lead to a strong increase in revenues.
Analysts see commissioning of assets closer to Rs 6,000 crore during the quarter.
Profitability is directly proportional to the commissioning of assets. Hence, analysts believe the profit growth may continue to remain strong, aided by the commissioning of around Rs 2,23,500 crore in the last four quarters. However, PAT growth may be lower than EBITDA growth due to higher interest expenses.
Key factors to monitor in Q3FY15 results are:
-Any likely revision in capex after new projects awarded/nominated
-Capitalisation/capex guidance for FY15
-Details on competitively bid projects
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