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Power Grid Corporation of India Ltd. has reported another stable quarter of growth in Q2 FY23. On a consolidated basis, reported revenue grew 8.6% YoY to Rs 111.5 billion, while Ebitda was up 3.5% to Rs 94.3 billion and reported profit after tax was up 8.1% at Rs 36.5 billion.
Adjusted profit after tax at Rs 34.1 billion was up 3.7% YoY. Consolidated capex for the quarter stood at Rs 17 billion and capitalisation was Rs 20 billion.
Power Grid also took a one-time charge of Rs 1.3 billion as differential between the present value of instalments (on conversion of overdue receivables as per Government of India scheme) and the overdue amount.
While opportunities in transmission segment are expected to pick up only by FY23- end, Power Grid intends to engage in multiple large-scale opportunities to deploy its capital, including smart metering and distribution infrastructure, data centres, solar power generation (on own land) and battery storage among others.
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