State-run transmission utility Power Grid Corp on Wednesday reported a 2.2 percent year-on-year (YoY) drop in net profit at Rs 3,292.9 crore for the third quarter ended December 31, 2021.
In the corresponding quarter last year, the company posted a net profit of Rs 3,367.7 crore. CNBC-TV18 Polls had predicted a profit of Rs 3,378 crore for the quarter under review.
Total revenues for the quarter rose 3 percent YoY to Rs 10,446.8 crore from Rs 10,142.4 crore in the year-ago quarter.
At the operating level, EBITDA jumped 2.3 percent to Rs 9,117.1 crore in Q3 FY22 over Rs 8,914.4 crore in Q3 FY21. EBITDA margin stood at 87.2 percent in Q3 FY22 as compared to 87.9 percent in Q3FY21. EBITDA is earnings before interest, tax, depreciation and amortization.
The results came after the close of the market hours. Shares of Power Grid ended at Rs 209.30, down by Rs 0.80, or 0.38 percent on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: Feb 9, 2022 5:51 PM IST
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