Power Grid Corporation Records 10.5% Rise in Q3 Net Profit, Declares Second Interim Dividend

8 Feb 2024 , 11:02 AM

Power Grid Corporation reported a 10.5% increase in consolidated net profit to ₹4,028.25 crore in the December quarter, attributed to higher revenues. The company’s consolidated net profit was ₹3,645.29 crore in the corresponding period last year, according to a regulatory filing.

Total income rose to ₹11,819.70 crore in Q3 of FY24 from ₹11,530.22 crore a year earlier. The board of directors, in a meeting on Wednesday, approved the payment of a second interim dividend of ₹4.50 per equity share of ₹10 each, equivalent to 45% of the paid-up equity share capital, for the fiscal year 2023-24.

The second interim dividend is scheduled to be paid to members on March 5, 2024.  Power Grid Corporation of India Limited is a central public sector undertaking under the Ministry of Power, Government of India, primarily engaged in the transmission of bulk power across various states in India.

Headquartered in Gurugram, Power Grid transmits approximately 50% of the total power generated in India through its transmission network.

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