Power Grid Corporation of India's first quarter net profit is seen rising 21.2 percent year-on-year to Rs 1,377 crore and revenue may increase 20.8 percent to Rs 4,761 crore, driven by healthy capitalisation. Operating profit in June quarter is likely to jump 22.7 percent to Rs 4,139 crore and margin may expand 40 basis points to 86 percent compared to same quarter last fiscal.
Analysts expect the state-run power company to report strong numbers yet again. Revenue and earnings growth may be led by strong pace of capitalisation seen over the past 1 year. They expect capitalisation of Rs 6,000 crore, up 22-23 percent Y-o-Y compared to Rs 4,900 crore in Q1FY15.
Healthy capitalisation during the past four quarters (Q2FY15 to Q1FY16e) at Rs 20,880 crore is expected to drive strong earnings growth of over 20 percent Y-o-Y. Divis Labs rallied more than 6 percent as its net profit in Q1 grew by 44.8 percent to Rs 243.2 crore and revenue climbed 25.8 percent to Rs 808.8 crore year-on-year.
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