Power Grid Corporation of India Ltd. Q1 FY2026 results: revenue ₹11,196 crore, up 1.7% on the year
Power Grid Corporation of India Ltd. (POWERGRID) reported consolidated revenue from operations of ₹11,196 crore for Q1 FY2026, the quarter ended 30 June 2025, up 1.7% on the same quarter a year earlier. Profit after tax was ₹3,631 crore, down 2.5% on the year, and earnings per share ₹3.90. The figures are the company's own, from the un-audited results it filed with NSE on 30 July 2025.
The quarter, against the one before and a year earlier
| Line | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 11,196 | 12,275 | 11,006 | +1.7% |
| Other income | 248 | 315 | 273 | -9.2% |
| Total income | 11,444 | 12,591 | 11,280 | +1.5% |
| Cost of materials consumed | 0 | 0 | 0 | n/a |
| Purchases of stock-in-trade | 0 | 0 | 0 | n/a |
| Changes in inventories | 0 | 0 | 0 | n/a |
| Employee benefit expense | 641 | 769 | 617 | +3.8% |
| Finance costs | 1,934 | 2,303 | 2,039 | -5.1% |
| Depreciation, depletion and amortisation | 3,130 | 3,196 | 3,200 | -2.2% |
| Other expenses | 1,409 | 1,282 | 786 | +79.2% |
| Total expenses | 7,114 | 7,550 | 6,643 | +7.1% |
| Profit before exceptional items and tax | 4,330 | 5,041 | 4,637 | -6.6% |
| Exceptional items | 0 | 0 | 0 | n/a |
| Profit before tax | 4,330 | 5,041 | 4,637 | -6.6% |
| Current tax | 775 | 939 | 781 | -0.7% |
| Deferred tax | 93 | -20 | 99 | -5.9% |
| Total tax | 868 | 919 | 879 | -1.3% |
| Profit after tax | 3,631 | 4,143 | 3,724 | -2.5% |
| Attributable to owners of the parent | 3,631 | 4,143 | 3,724 | -2.5% |
| Other comprehensive income | 191 | -77 | 44 | +328.9% |
| Total comprehensive income | 3,821 | 4,065 | 3,768 | +1.4% |
| EPS, basic | ₹3.90 | ₹4.46 | ₹4.00 | -2.5% |
| EPS, diluted | ₹3.90 | ₹4.46 | ₹4.00 | -2.5% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 1.35 | 1.41 | 0.01 | |
| Debt service coverage | 1.06 | 1.57 | 0.02 | |
| Interest service coverage | 4.64 | 4.16 | 0.04 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q1 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Transmission | 10,695 | 93.9% | 6,218 | 58.1% |
| Consultancy | 406 | 3.6% | 31 | 7.5% |
| Telecom | 289 | 2.5% | 141 | 48.7% |
| Assets Classified as Held for Sale | 0 | n/a | 0 | n/a |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,267 | 11,550 | 11,978 | 11,006 | 11,278 | 11,233 | 12,275 | 11,196 | 11,476 | 12,395 | 11,666 | 11,497 |
| Expenses | 6,977 | 7,076 | 7,066 | 6,643 | 7,310 | 6,829 | 7,550 | 7,114 | 7,733 | 7,314 | 8,069 | 7,112 |
| Operating profit | 9,908 | 10,213 | 10,099 | 9,602 | 9,701 | 9,538 | 10,224 | 9,147 | 9,114 | 10,653 | 9,066 | 9,536 |
| OPM % | 88% | 88% | 84% | 87% | 86% | 85% | 83% | 82% | 79% | 86% | 78% | 83% |
| Other income | 263 | 270 | 327 | 273 | 568 | 510 | 315 | 248 | 194 | 204 | 305 | 200 |
| Interest | 2,341 | 2,446 | 1,928 | 2,039 | 2,441 | 1,917 | 2,303 | 1,934 | 2,148 | 2,190 | 2,175 | 2,023 |
| Depreciation | 3,277 | 3,293 | 3,259 | 3,200 | 3,292 | 3,216 | 3,196 | 3,130 | 3,223 | 3,381 | 3,295 | 3,128 |
| Exceptional items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 4,553 | 4,743 | 5,239 | 4,637 | 4,536 | 4,914 | 5,041 | 4,330 | 3,937 | 5,285 | 3,901 | 4,585 |
| Tax % | 13% | 17% | 18% | 19% | 19% | 22% | 18% | 20% | 21% | 25% | -113% | 19% |
| Net profit | 3,781 | 4,028 | 4,166 | 3,724 | 3,793 | 3,862 | 4,143 | 3,631 | 3,566 | 4,185 | 4,546 | 3,598 |
| EPS in ₹ | ₹4.06 | ₹4.33 | ₹4.48 | ₹4.00 | ₹4.08 | ₹4.15 | ₹4.46 | ₹3.90 | ₹3.84 | ₹4.50 | ₹4.89 | ₹3.87 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 30 June 2025, filed with NSE on 30 July 2025: the result statement. All of Power Grid Corporation of India Ltd.'s results: NSE company page.
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