Power Grid Q3 net profit up 10.5%, declares 2nd dividend

New Delhi: Power Grid Corporation of India Ltd on Wednesday reported a 10.5 per cent growth in its consolidated net profit at Rs 4,028 crore in the October-December quarter of the current financial year compared with the corresponding figure of Rs 3,645 crore in the same period of the previous year.

The Power Grid Board has approved a second interim dividend of Rs 4.50 per equity share for 2023-24. The second interim dividend will be paid to the eligible shareholders on March 5.

The Government-owned company’s revenue from operations increased by 2.5 per cent year-on-year (YoY) in the third quarter to Rs 11,550 crore from Rs 11,262 crore in the same period last year.

EBITDA for the quarter rose 3 per cent YoY to Rs 10,213 crore. It was Rs 9,893 crore a year ago. Meanwhile, margins improved to 88.4 per cent in the reporting quarter.

Total expenses during the quarter fell to Rs 7,076 crore compared with Rs 7,786 crore in the same quarter last year.