Power Grid Corporation of India Ltd. Q3 FY2026 results: revenue ₹12,395 crore, up 10.3% on the year
Power Grid Corporation of India Ltd. (POWERGRID) reported consolidated revenue from operations of ₹12,395 crore for Q3 FY2026, the quarter ended 31 December 2025, up 10.3% on the same quarter a year earlier. Profit after tax was ₹4,185 crore, up 8.4% on the year, and earnings per share ₹4.50. The figures are the company's own, from the un-audited results it filed with NSE on 30 January 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 12,395 | 11,476 | 11,233 | +10.3% |
| Other income | 204 | 194 | 510 | -60.0% |
| Total income | 12,599 | 11,670 | 11,743 | +7.3% |
| 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 | 659 | 668 | 597 | +10.5% |
| Finance costs | 2,190 | 2,148 | 1,917 | +14.2% |
| Depreciation, depletion and amortisation | 3,381 | 3,223 | 3,216 | +5.1% |
| Other expenses | 1,083 | 1,694 | 1,098 | -1.4% |
| Total expenses | 7,314 | 7,733 | 6,829 | +7.1% |
| Profit before exceptional items and tax | 5,285 | 3,937 | 4,914 | +7.5% |
| Exceptional items | 0 | 0 | 0 | n/a |
| Profit before tax | 5,285 | 3,937 | 4,914 | +7.5% |
| Current tax | 935 | 701 | 882 | +6.0% |
| Deferred tax | 378 | 128 | 209 | +81.2% |
| Total tax | 1,312 | 829 | 1,090 | +20.4% |
| Profit after tax | 4,185 | 3,566 | 3,862 | +8.4% |
| Attributable to owners of the parent | 4,185 | 3,566 | 3,862 | +8.4% |
| Other comprehensive income | -22 | 46 | -116 | n/a |
| Total comprehensive income | 4,163 | 3,612 | 3,745 | +11.1% |
| EPS, basic | ₹4.50 | ₹3.84 | ₹4.15 | +8.4% |
| EPS, diluted | ₹4.50 | ₹3.84 | ₹4.15 | +8.4% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 145.00 | 137.00 | 0.01 | |
| Debt service coverage | 163.00 | 190.00 | 0.02 | |
| Interest service coverage | 443.00 | 436.00 | 0.05 |
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, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Transmission | 11,801 | 93.7% | 7,451 | 63.1% |
| Consultancy | 497 | 3.9% | 87 | 17.6% |
| Telecom | 299 | 2.4% | 146 | 48.9% |
| Asset 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 31 December 2025, filed with NSE on 30 January 2026: the result statement. All of Power Grid Corporation of India Ltd.'s results: NSE company page.
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