POWER GRID Announces Quarterly Results (1QFY22); Net Profit Up 240.2%
Thu, 12 Aug

POWER GRID has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

POWER GRID Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m94,574105,102102,165-2.8%8.0%
Other incomeRs m3,5933,0611,751-42.8%-51.3%
TurnoverRs m98,167108,163103,916-3.9%5.9%
ExpensesRs m11,15812,14712,1790.3%9.2%
Gross profitRs m72,66692,955120,12529.2%65.3%
DepreciationRs m29,58831,12231,1250.0%5.2%
InterestRs m22,02718,81522,16017.8%0.6%
Profit before taxRs m24,64446,07968,59248.9%178.3%
TaxRs m8,5807,32313,93790.3%62.4%
Profit after taxRs m16,06538,75754,65541.0%240.2%
Gross profit margin%76.888.4117.6
Effective tax rate%34.815.920.3
Net profit margin%16.435.852.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 8.0% on a year-on-year (YoY) basis. The expenses were up by 9.2% YoY during the same period.
  • The company's operating profit increased by 65.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 117.6% in 1QFY22 as against 76.8% in 1QFY21.
  • Depreciation charges increased by 5.2% and finance costs increased by 0.6% YoY, respectively.
  • Other income declined by 51.3% YoY during the quarter.
  • Net profit for the quarter increased by 240.2% YoY. Net profit margins during the quarter increased from 16.4% in 1QFY21 to 52.6% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit increased by 29.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 117.6% in 1QFY22 as against 88.4% in 4QFY21.
  • Net profit for the quarter increased by 41.0% QoQ, while net profit margins increased from 35.8% in 4QFY21 to 52.6% in 1QFY22.

To see how POWER GRID has performed over the last eight quarters,please visit here.

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POWER GRID Share Price Performance

Over the last one year, POWER GRID share price has moved up from Rs 133.4 to Rs 185.3, registering a Gain of Rs 51.9 or around 38.9%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 2,687.9 (up 1.8%). Over the last one year it has moved up from 1,575.4 to 2,687.9, a gain of 1,112 points (up 70.6%).

Overall, the S&P BSE SENSEX is up 43.4% over the year.

Current Valuations

At the current price of Rs 185.3, the price to earnings (P/E) ratio of POWER GRID stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.