{"id":385718,"date":"2020-11-23T12:45:05","date_gmt":"2020-11-23T07:15:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=385718"},"modified":"2020-11-23T12:45:05","modified_gmt":"2020-11-23T07:15:05","slug":"power-grid-rating-hold-other-income-rise-drove-pat-beat","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/power-grid-rating-hold-other-income-rise-drove-pat-beat\/","title":{"rendered":"Power Grid Rating: Hold- Other income rise drove PAT beat"},"content":{"rendered":"<p>Q2FY21 profits beat was due to higher other income. Consolidated capex is down 14% y-o-y and capitalisation is up 154% y-o-y as Rs 95 bn of the Rs 195-bn Raigarh Pugalur project was commissioned. Higher surcharge income drove the 67% y-o-y other income rise. We raise our FY21e-22e EPS by 2-5% to account for the same. The stock has de-rated in the last 3-5 years on a weak growth outlook and 6% dividend yield limits absolute downside. Maintain Hold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q2FY21 profits beat was due to higher other income. Consolidated capex is down 14% y-o-y and capitalisation is up 154% y-o-y as Rs 95 bn of the Rs 195-bn Raigarh Pugalur project was commissioned. Higher surcharge income drove the 67% y-o-y other income rise. We raise our FY21e-22e EPS by 2-5% to account for the same. The stock has de-rated in the last 3-5 years on a weak growth outlook and 6% dividend yield limits absolute downside. Maintain Hold.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-385718","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=385718"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385718\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=385718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=385718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=385718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}