PGCIL Q1 FY20 profit up 8 pct to Rs 2,428 crore
Power Grid Corporation of India (PGCIL), the central transmission utility of the country, recorded a 8.3% year-on-year (y-o-y) rise in net profit to Rs 2,427.9 crore for the quarter ended June 30 as revenue from power transmission — its main business segment — grew 9.4% y-o-y to Rs 8,651.2 crore. PGCIL’s tax expenses recorded a 39.8% fall to Rs 868.4 crore, contributing to higher profit.
Earnings before interest taxes, depreciation and amortisation (Ebitda) was up by 10.5% to Rs 7,890.2 crore in the quarter from the same period a year ago as its ‘other expenses’ fell more than 45% to Rs 409.7 crore. The company’s finance costs increased by 10.2% to Rs 2,359.1 crore while depreciation and amortisation expenses rose by 8.5% to Rs 2,659.1 crore.
