Power Grid logs 10% y-o-y growth in net profit at ₹4,028 Crore

8 Feb 2024 , 10:30 AM

Power Grid on Wednesday recorded a 10% increase in its consolidated net profit to ₹4,028 Crore in the third quarter, compared to ₹3,645 Crore in the same quarter last year.

Revenue from operations climbed by a marginal 2.5% year-on-year (YoY) in the reporting quarter to ₹11,550 Crore, up from ₹11,262 Crore in the same period previous year.

Furthermore, the Board approved a second interim dividend of ₹4.50 per equity share for fiscal year 2023-24. The second interim dividend will be distributed to qualified stockholders on March 5.

EBITDA for the quarter increased 3% year on year to ₹10,213 Crore. The figure was ₹9,893 Crore a year earlier. Meanwhile, margins increased to 88.4% throughout the reporting quarter.

Total costs for the quarter fell slightly to ₹7,076 Crore, compared to ₹7,786 Crore in the previous year’s quarter.

Revenues for the nine months ending December 2023 increased 2% year-on-year to ₹33,864 Crore. Profit for the nine months climbed by 3% year-on-year to ₹11,407 Crore.

Transmission revenue increased 2% to ₹11,314 Crore in the December quarter. It was ₹11,055 Crore a year ago. The consultancy and telecom divisions generated sales of ₹175 Crore and ₹186 Crore, respectively.

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