Insert data into database in ASP.NET throwing exception

First the important, always use sql-parameters to prevent sql-injection. Never concatenate parameters into a sql-query. This can also solve localization or "escaping" issues.

Also, use the using statement to ensure that anything using unmanaged resources (like a sql-connection) will be closed and disposed even on error:

string sql = @"
INSERT INTO MeterReading(MachineName,LastReading,CurrentReading,Consumption) 
VALUES(@MachineName,@LastReading,@CurrentReading,@Consumption)";

using(var objsqlconn = new SqlConnection(ConfigurationManager.ConnectionStrings["Conn"].ToString()))
using (var cmd = new SqlCommand(sql, objsqlconn))
{
    cmd.Parameters.AddWithValue("@MachineName", TextBox1.Text);
    cmd.Parameters.AddWithValue("@LastReading", TextBox2.Text);
    cmd.Parameters.AddWithValue("@CurrentReading", TextBox3.Text);
    cmd.Parameters.AddWithValue("@Consumption", TextBox4.Text);
    objsqlconn.Open();
    int insertedCount = cmd.ExecuteNonQuery();
}

Side-note: if you have an identity column and you want to retrieve the newly created primary-key, use SCOPE_IDENTITY and ExecuteScalar even if you use INSERT INTO:

string sql = @"
INSERT INTO MeterReading(MachineName,LastReading,CurrentReading,Consumption) 
VALUES(@MachineName,@LastReading,@CurrentReading,@Consumption); 
SELECT CAST(scope_identity() AS int)";

//...
int newID = (int)cmd.ExecuteScalar();

Use a variable to check if row is getting affected or not

 rowAffected= objcmd.ExecuteNonQuery();
             if(rowAffected >0)
              {
                //sucessful
              }
             else
              {
                //
              }

Since there is no any exception mention in your question so just for a better and readable code I would suggest you too use using blocks. It gives you nice, cleaner and readable code and also handle objects when they go out of scope.

This is meant for good practices that we generlly follow while coding. Kindly show us the exception for appropriate solution.

private void ConnectToDb()
{

var conn = ConfigurationManager.ConnectionStrings["Conn"].ConnectionString;
using( var conn = new SqlConnection(conn))
{
 conn.Open();
 var cmdtxt ="Insert into MeterReading(MachineName,LastReading,CurrentReading,Consumption) 
Values(@P1,@P2,@P3,@P4)";
 using(var cmd = new SqlCommand(cmdtxt, conn))
 {
   cmd.CommandType=CommandType.Text;
   cmd.Parameters.AddWithValue("@P1", TextBox1.Text);
   cmd.Parameters.AddWithValue("@P2", TextBox2.Text);
   cmd.Parameters.AddWithValue("@P3", TextBox3.Text);
   cmd.Parameters.AddWithValue("@P4", TextBox4.Text);
   cmd.ExecuteNonQuery();

 }
 con.close();
}
}