Power Grid Q2 consolidated profit rises 8% YoY to ₹3,650 crore


State owned Power Grid Corporation on Saturday reported a rise of 8 per cent in consolidated net profit to 3,650 crore for the September 2022 quarter. This is against a consolidated net profit of 3,376 crore in the year ago period.

The company’s consolidates revenue rose by 9 per cent to 11,151 crore as against 10,267 crore in the Q2FY22.

However, sequentially Power Grid Corporation’s net profit declined by 4 per cent from 3,801 crore recorded in Q1FY23.

The revenues from transmission business were higher by 9 per cent YoY to 10,920, while the telecom business witnessed a growth of 7 percent on year at 205 crore. However the consultancy segment revenue declined by 25 per cent to 141.18 crore.

For the half year ended September 2022, Power Grid reported a bottomline of 7,416.90 crore, which is over 21 per cent below the profit of 9,423.68 crore clocked by the company in the first half of last financial year.

The Board of the company approved the payment of Interim Dividend of Rs. 5/- per equity share of Rs. 10/- each (@50 percent of the paid-up equity share capital) for the Financial Year 2022-23. The said Interim Dividend shall be paid to the shareholders on 30th November, 2022.

On Friday, shares of Power Grid were down by 0.83 per cent at 226.15 apiece on the BSE.

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