The consolidated net profit for the quarter ending March 31, 2024, as announced by Power Grid Corporation of India Ltd. (PowerGrid or PGCIL) on May 22 was ₹4,137.21 Crore, a 3.5% decrease from ₹4,288.11 Crore the previous year.
For the fiscal year 2023–2024, the Central Public Sector Undertaking (CPSU) also announced the payment of a third interim dividend, amounting to ₹2.75 per equity share of ₹10 each, or 45% of the paid-up equity share capital. Members will receive their interim dividend within 30 days of the company’s annual general meeting being announced.
Operational revenue was ₹11,978.11 Crore, a 2.5% decrease from ₹12,285.6 Crore in the same period previous year. In the three months ending March 31, 2024, consolidated revenue decreased slightly to ₹12,305.4 Crore from ₹12,557.4 Crore in the same quarter the previous year, representing a 2% decline.
In comparison to the same period last year, the company’s profits before interest, tax, depreciation, and amortisation (EBITDA) decreased by 6% to ₹10,488 Crore in the fourth quarter of this fiscal year from ₹11,149.97 Crore. In the reporting quarter, the EBITDA margin was 87.59%, down from 90.76% during the same time in the previous fiscal year.
The company’s transmission business reported a 4.2% decline in revenues from ₹12,286.9 Crore in the same period last year to ₹11,766.4 Crore in the fourth quarter of FY24. The transmission business’s profit dropped by 14% to ₹6,731 Crore.
In a similar vein, its telecom division’s earnings decreased by 20.7% to ₹60.14 Crore, despite revenues rising to ₹249.7 Crore from ₹208.8 Crore.
Revenues for Power Grid’s consulting division increased to ₹234.9 Crore from a revenue deficit of ₹13.58 Crore the previous year. Profit for the division increased to ₹56.6 Crore from a loss of ₹146.3 Crore.
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