Power Grid Corporation shares rally 4% to hit 52-week high on increased capex allocation for FY25

Power Grid Corporation, in its investor presentation on July 29, said that the company’s management has increased the capital expenditure outlay for FY25 to ₹18,000 crore compared to ₹15,000 crore earlier. The company also said that its estimated outlay up to the year 2032 stood at ₹2,07,500 crore.

The Power Ministry public sector undertaking (PSU) said that its work in hand stood at ₹1,14,139 crore as of July 26, 2024.

The company aims to become a net water-positive organisation by 2030 and a net zero company by 2047.

The public sector company’s consolidated revenue from operations in Q1FY25 remained flat at ₹11,006.18 crore, down by 0.37%, compared to ₹11,048.13 crore in Q1FY24. Sequentially, the company’s revenue from operations fell over 8% from ₹11,978.11 crore in Q4FY24.

In Q1 FY25, the company’s profit-after-tax (PAT) increased over 3% to ₹3,723.92 crore compared to ₹3,597.16 crore in the corresponding quarter of the preceding fiscal year. The company’s PAT for the June quarter fell over 10% quarter-on-quarter against ₹4,166.33 crore in the March quarter of FY24.

Power Grid Corporation of India Limited is a PSU engaged in power transmission and distribution.

Power Grid Corporation shares closed at 2.09% higher at ₹349.5 apiece on the NSE. The PSU stock has surged 79.06% in the last one year and 35.91% in the past six months. In the last one month, the stock has gained 5.65%.