Genus Power Q4: Smart meter biz drives up net profit 5x; revenue, margins increase

Genus Power Infrastructures has delivered a robust financial performance in the fourth quarter ended March 31, driven by its thriving metering business segment. The company reported a net profit of ₹123 crore in Q4FY25, an over fivefold jump from ₹24.3 crore year-on-year (YoY).

The company's revenue more than doubled, reaching ₹936.8 crore against ₹420 crore last year, reflecting strong demand and operational efficiency.

EBITDA zoomed to ₹196.3 crore, up from ₹51 crore YoY, with margins expanding over 800 bps to 20.95% from 12.16%, highlighting improved profitability.

The company's strategic focus on the metering business has been a key driver of growth, contributing significantly to its strong quarterly performance.

Smart meters in India

Genus Power Infrastructure is emerging as a key player in India's evolving power distribution sector, leveraging its large-scale operations and comprehensive service offerings, including advanced metering infrastructure (AMI) and facility management systems (FMS) post-installation.

Emkay Global Financial's April report highlighted the ongoing shift in India's power grid, driven by the gradual adoption of smart grid technology. Although smart meter implementation has progressed at a measured pace, significant improvements have been recorded in AT&C losses, collection, and billing efficiencies. Over time, AT&C losses for discoms have steadily declined, dropping from 22.3% in FY21 to 17.6% in FY24, enhancing operational efficiency and financial sustainability.

Among states, Bihar and Assam have led the adoption of smart meters, with installations reaching notable highs. While FY25 has seen muted awarding, implementation is expected to accelerate significantly in FY26 and beyond, opening up further growth opportunities.

With only 25 million smart meters installed as of April 2025, the market remains ripe for expansion, but successful execution will be crucial in ensuring India's power sector continues its transition toward greater efficiency and reliability.

The results came after the close of the market hours. Shares of Genus Power Infrastructures ended at ₹395, up by 2.64%, on the BSE today (May 30).

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