PowerGrid Q4 FY23 Results Preview: Revenue likely to rise by more than 10% due to asset capitalization
PowerGrid Q4 Result Preview: PowerGrid — a state-run power transmission company — is likely to report a net profit of Rs 4222 crore for the quarter ended March 2023, boosted by stronger asset capitalisation, according to Zee Business research. That translates to growth of 2 per cent compared with the corresponding period a year ago, though a second straight quarter of shrinking profit on a sequential basis is likely expected.
As per the estimates, the revenue of the company is likely to be up by nearly 11 per cent as it is expected to be at Rs 11874 crore as against Rs 10686 crore in the previous year during the same quarter. EBITDA is also expected to go up by more than 11 per cent to Rs 10421 crore that previously stood at Rs 9340.54 crore.
According to Zee Business research, the growth will be primarily driven by asset capitalization. The company currently has work-in-hand projects that stand at Rs 47600 crore. The number of ongoing projects stands at 7600 and the company is expected to get 27000 new projects.
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Powergrid stock closed at Rs 235.3 with a net change of -3.35 and a percent change of -1.4. Yesterday's closing price was Rs 238.65.