State-owned Power Grid Corporation of India Ltd on Wednesday (February 7) reported a 10.5% year-on-year (YoY) increase in net profit at ₹4,028.3 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Power Grid Corporation posted a net profit of ₹3,645.3 crore, the company said in a regulatory filing. The company's revenue from operations increased 2.6% to ₹11,549.8 crore as against ₹11,261.8 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA grows 3.2% to ₹10,212.9 crore in the third quarter of this fiscal over ₹9,893.5 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 88.4% in the reporting quarter as compared to 87.9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The board of directors has approved the payment of the second interim dividend of ₹4.50 per equity share of ₹10 each (45% of the paid-up equity share capital) for the financial year 2023-24. The second interim dividend shall be paid to the members on March 5, 2024.
The results came after the close of the market hours. Shares of Power Grid Corporation of India Ltd ended at ₹267.95, down by ₹6.40, or 2.33%, on the BSE.
First Published: Feb 7, 2024 4:14 PM IST
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