- 04 Feb 2025
- ICICIdirect Research
POWERGRID REPORTED MUTED SET OF Q3FY25 RESULTS
POWERGRID - 298 Change: -10.60 (-3.43 %)News: Powergrid reported muted set of Q3FY25 results. Standalone revenue declined 5.2% YoY to ₹10120.7 crore. From a segmental perspective, core transmission revenue stood at ₹10,316 crore down 3.3% given past couple of quarters have seen tepid asset addition. EBITDA came in at ₹8,522 crore down 9% on back of muted revenues and 50% YoY increase in other expenses. Consequently, PAT came in at Rs 3894.1 crore down 1.9% YoY. The company declared dividend of ₹ 3.25 per share as 2nd interim dividend for FY25
View: The transmission opportunity over the next 5 years is significant given the strong generation capacity addition programme and Powergrid will be one of the key beneficiary. We would await the company’s guidance in terms of capacity addition over the next 3-5 years and use any significant corrections to add the stock
Impact: Neutral