Power Grid reported its Q2FY18 results, which were below our estimates on all counts. Revenue growth, though in double digits, was below estimates. This coupled with higher depreciation charges also led to lower growth on the profitability front. Revenues came in at | 7353.1 crore, up 17.6% YoY (I-direct estimate of | 7606.8 crore). Transmission segment revenues for Q2FY18 grew 18.8% YoY, which was at | 7063.4 crore. On the other hand, consultancy and telecom...