Power Grid's Q2 Profit Rises 32%; Stock Rises Slightly

State-run Power Grid Corporation disclosed a 32 per cent rise in standalone net profit at Rs 1,872 crore for the quarter which ended on September 30 on account of higher income from operations. The company had registered a net profit of Rs 1,418 crore on a standalone basis in the same quarter of last financial year, Power Grid Corporation’s BSE filling read. Total income rose to Rs 6,480.2 crore in July-September this year, more than Rs 4,990 crore in the year-ago period, the company said in a release.

The firm's revenues from transmission business increased to Rs 6,100.6 crore during the Sept quarter from Rs 4,721.22 crore in the year-ago period. From consultancy, the company's revenue was also higher at Rs 154.21 crore in September quarter 2016-17 as compared to Rs 100.7 crore in the same quarter last financial year. Income from telecom business was recorded at Rs 143.31 crore in the first quarter as compared to Rs 107.89 crore during the same quarter last fiscal. Power Grid Corporation, the central transmission utility, is involved in bulk power transmission.

On 9^th Nov, Power Grid share price settled below 3 per cent at Rs.180.20. The stock opened at Rs. 170 as compared to its previous closing at Rs.177. The scrip touched the days high and low at Rs. 181.30 and Rs. 166.95.

Power Grid share touched its 52 week high value on 6^th Sep ’16 at Rs. 187 whereas the 52 week low value is seen at Rs. 126.65 on 9^th Nov ’15.

Power Grid is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Power Grid is fundamentally strong and is safe for investment, as per Dynamic analysts.

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Power Grid share price history.

Power Grid Board Nods To Investments Of Rs 1,184.45 Cr

Power Grid Corp announced that its board has given the approval o to invest Rs 1,184.45 crore in power transmission projects across the country. Its BSE filling read that the company's Board of Directors, in their meeting held on October 22, 2016, have approved to three investment proposals, Power Grid Corp said in a BSE filing.

According to the statement, the Board has approved the proposal 'Augmentation of Transformation Capacity in Southern Region' at an approximate cost of Rs 167.75 crore, with authorizing schedule of 30 months from the date of approval.

It also approved investment for 'Sub-station works related with boosting of transmission system beyond Vemagiri' at an e cost of Rs 608.24 crore, with commissioning schedule of 30 months from the date of approval.

The board also gave a nod to invest in 'Transmission System for Ultra Mega Solar Park at Tumkur (Pavagada), Karnataka - Phase-II (Part A)' at a predicted cost of Rs 408.46 crore, with commissioning schedule of 27 months from the date of approval.

As seen on 24^th Oct, Power Grid share price is trading at Rs. 175.45, down by 0.85 per cent. The stock opened at Rs. 176.60 and touched the day’s high and low at Rs. 178.35 and Rs. 175.15 respectively. Till now, around 6,55,875 shares were traded in the counter with a traded value of Rs. 1,157.82 lacs, as per NSE.

Power Grid share price touched its 52 week high value at Rs. 187.70 on 6^th Sept ’16 whereas the 52 week low value is seen at Rs. 126.20 on 29^th Oct ’15.

Power Grid is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Power Grid is fundamentally strong and is safe for investment, as per Dynamic analysts.

In order to know about its fundamentals and financials, please a pay a visit to Power Grid share price history.

Net Profit Rises for Power Grid while Share Price Fa

Power Grid Corporation of India declared its quarter result for June 30th 2016. Power Grid is an Indian state-owned electric utilities company and is crowned among the Navratna companies of India. Powergrid share price has touched a new 52 weeks high of Rs. 183.10 which remained its intraday high.

Financials:

•  Net profit: The Company reported 32.90% rise in net profit at Rs 1807.77 crore for the quarter ended June 30, 2016. Net profit for the same quarter in the previous year stood at Rs 1355.64.
• Total income: A jumped by 30.49% year-on-year was reported by company regarding its total income. The value was Rs 6119.86 crore for the quarter under review against Rs 4,689.88 crore in the same quarter last year. The rise in the total income and net profit failed to impress Power grid share price miserably.
• Other Income: Other incomes of Power Grid stood at Rs 139.44 crore with the jump by 36% for the quarter ended June 30, 2016 against Rs 102.50 for the same quarter ended last financial year.
• Transmission and Telecom Income: The transmission income and the telecom income of the company jumped to Rs 5,838.19 crore and 110.48 crore as compared to Rs 4512.49 crore and Rs 87.83 crore, respectively, in the corresponding period last year.
• Total Expenditure: Power Grid reported a jump by 27.11% in its total expenditure. The value stood at Rs 2457.49 crore for the quarter under review against Rs 1933.24 crore in the same quarter last year.

Power Grid share price was trading 1.74% up at Rs 181 at 2.03 pm today’s trade. The scrip opened the day at Rs 178.80 and closed at Rs. 176.90 with a drop of 0.65%. The intraday low of the scrip remained Rs 178.80. For more details refer to the Power Grid share price history page of Dynamic Levels website.