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Power Grid Q2 Results Declared, Profit Surged 41.52%

By Bhaveek Patel Leave a Comment

Power Grid Corporation Ltd. has announced its second quarter result (ending September 2010). It has reported net profit of Rs.651 crore against Rs.460 crore last quarter, a strong growth of 41.52% was seen on yearly basis (Year on year). Its total revenue boosted 25.04% to Rs.2,127 crore from Rs.1,701 crore (YoY). Also its average yearly earnings per share (EPS) was found to be Rs.5.22 per share, as compared to June 2010. Power Grid’s price-to-earnings (P/E) share ratio was 19.93 (neutral stock). The latest book value of the company announced is Rs.37.88 for a share. At current market value, the price to book value ratio of the company was at 2.75. The dividend yield was calculated as 1.44%.

Our View: As the net profit has jumped 41.52%, the stock has not done any retraces with the earnings. We will advice investors to keep a keen watch on the stock if it gains 111 levels with strong momentum then one can go long on this otherwise stay away.

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Category: Results Tags: Power Grid/ Results

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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