Power Grid reports net profit of ₹3,793 Crore in Q2

7 Nov 2024 , 10:31 AM

On Wednesday, the state-owned Power Grid recorded a flat consolidated net profit of ₹3,793 Crore for the quarter ended September 2024, compared to ₹3,781 Crore in the same quarter previous year.

The company’s revenue from operations was similarly flat, at ₹11,278 Crore in the quarter under review, compared to ₹11,267 Crore in the same quarter last year.

The board approved the payment of the first interim dividend of ₹4.50 per equity share of ₹10 for fiscal year 2024-25.

The dividend will be paid to shareholders on December 4, and the record date for payment and determining shareholder eligibility is November 14. 

The company has also approved the proposal to sell, assign, and transfer a 26% residual equity shareholding in four associate companies –PowerGrid Kala Amb Transmission, PowerGrid Warora Transmission, PowerGrid Parli Transmission, and POWERGRID Jabalpur Transmission — to PowerGrid Infrastructure Investment Trust (PGInvIT).

Total expenses for the second quarter rose to ₹7,309 Crore. In the same quarter last year, the figure was ₹6,977 Crore.

Power Grid Corporation of India Limited is an Indian central public sector undertaking owned by the Ministry of Power, Government of India. It mostly transmits bulk power throughout various Indian states. It is headquartered in Gurugram.

For feedback and suggestions, write to us at [e-mail]