Power Grid Q3 Review - Lower Capex, Higher Dividend: Dolat Capital
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Dolat Capital Report
Power Grid Corporation of India Ltd.’s Q3 revenues were largely in line, though profit after tax was slightly lower due to higher tax in the quarter.
It has done a capex of Rs 29 billion, while capitalization was Rs 6.7 billion. For nine months FY21, it has done a capex of Rs 79 billion, while capitalization was Rs 126 billion.
It has maintained its guidance for a capex of Rs 105 billion and capitalization of Rs 210 billion in FY21.
As capex reduces and Infrastructure investment trusts proceeds used for gowth, we believe that it can increase dividend payouts going forward.
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