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Power Grid Corporation March qtr PAT drops 4% to Rs 4,166.33 cr

Power Grid Corporation March qtr PAT drops 4% to Rs 4,166.33 cr

| @indiablooms | 22 May 2024, 11:03 pm

Mumbai: State-owned Power Grid Corporation reported a nearly four percent decrease in its consolidated net profit to Rs 4,166.33 crore for the March 2024 quarter, primarily due to a slight decline in income.

This compares to a consolidated net profit of Rs 4,322.87 crore in the same quarter last year, according to a BSE filing.

The company's total income for the quarter fell to Rs 12,305.39 crore, down from Rs 12,557.44 crore a year earlier.

For the fiscal year 2023-24, the consolidated net profit increased to Rs 15,573.16 crore from Rs 15,419.74 crore the previous year.

Total income for the fiscal year rose to Rs 46,913.12 crore, compared to Rs 46,605.64 crore in the prior year.

The board has also recommended a final dividend of Rs 2.75 per share (27.5 percent on the paid-up equity share capital) for the financial year 2023-24, subject to shareholder approval at the upcoming annual general meeting.

This final dividend will be paid within 30 days of its declaration at the AGM.

This final dividend is in addition to the first interim dividend of Rs 4 per share (40 percent on the paid-up equity share capital) paid on December 6, 2023, and the second interim dividend of Rs 4.50 per share (45 percent on the paid-up equity share capital) paid on March 5, 2024, for the financial year 2023-24.

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