18 May , 2026 By : Debdeep Gupta
Power Grid Corporation of India shares fell 5 up to percent on Monday to hit an over one-month low after the company reported a decline in revenue for the March quarter and missed estimates on the top line and operating profit.
The stock declined to Rs 290.20 per share on the NSE during the session. It had gained nearly 2 percent in the previous two trading sessions. Trading volume in the counter was more than double that of the previous session.
The decline in the stock came despite the state-owned power transmission company reporting a 9.7 percent rise in consolidated net profit for the March quarter.
According to brokerage Motilal Oswal Financial Services, the increase in profit was aided by a deferred tax asset of Rs 5,280 crore, while revenue and operating profit came in below its estimates.
The company reported a net profit of Rs 4,546.3 crore for the quarter ended March 2026, compared with Rs 4,143 crore in the corresponding period last year. It said remeasurement of deferred tax balance supported profit after tax.
Revenue from operations fell 5 percent to Rs 11,666 crore from Rs 12,275 crore a year earlier.
Other expenses rose to Rs 1,899 crore from Rs 1,283 crore in the year-ago period.
The company’s operating margin contracted to 78 percent from 83 percent in the corresponding quarter last fiscal.
According to Informist, while the company’s net profit was above Street expectations, revenue missed estimates by a wider margin. It quoted brokerage JM Financial Ltd saying it expects the company’s capital expenditure and capitalisation in 2025-26 to remain in a similar range.
0 Comment