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Power Grid Q3 PAT Seen Up 22% At Rs 722 Cr

  • Power Grid Corporation , the central transmission utility of the country, is likely to report a profit after tax of Rs 722 crore in the October-December quarter of FY12, a growth of 22% as compared to Rs 591 crore in a year ago quarter.Total income is seen going up by 19% to Rs 2,449 crore from Rs 2,052 crore year-on-year. EBITDA too is seen increasing 20% to Rs 2,081 crore from Rs 1,727 crore during the same period.Operating profit margin is expected to be at 84.98% in the third quarter of FY12 versus 84.18% in the corresponding quarter of last fiscal.

Highlights

  • - Commissioning of new projects to aid in revenue growth
  • - Increase in working capital cycle on account of increasing receivables to be monitored
  • - Total projects under construction currently stand at Rs 83,900 crore versus Rs 81,500 crore in FY11
  • * Company's order awards have picked up recently vis-�-vis last year
  •  * Company has awarded Rs 5000 crore worth of orders in October-November FY12 versus Rs 600 crore last year
  • * At YTDFY12, company has awarded Rs 9000 crore versus Rs 2400 crore last year

Key factors to watch for -

  • - New asset commissioning
  • - Variation in capex target versus achievement
  • Capitalization Guidance for FY12
  • - The management had guided for capitalization of Rs 10,000 crore in FY12
  • * In H1FY12, company' fixed asset capitalization stood at Rs 4100 crore

Source