Power Grid Corporation of India reports Q2FY24 consolidated net profit of Rs 3,781.42 cr
Mumbai: The Power Grid Corporation of India Tuesday reported Rs 3,781.42 crore as its consolidated net earnings for the quarter ending September 30, 2023, up 3.59 percent compared to Rs 3,650.29 crore the previous year primarily driven by lower expenses, although higher taxes partially offset the gains.
The Central Public Sector Undertaking (CPSU) declared an interim dividend of Rs 4 per equity share with a face value of Rs 10 each (representing 40 percent of the paid-up equity share capital) for the fiscal year 2023-24.
The interim dividend will be distributed to shareholders on December 6.
The company's revenue from operations amounted to Rs 11,267.07 crore, marking a 1.04 percent rise from Rs 11,150.57 crore in the corresponding quarter of the previous year.
The consolidated revenue also saw a slight uptick, reaching Rs 11,530.43 crore in the three months ending September, compared to Rs 11,349.44 crore in the same period last year, representing a 1.6 percent increase.
In terms of earnings before interest, tax, depreciation, and amortization (EBITDA), the company experienced a 5.7 percent surge to Rs 10,171.73 crore in the second quarter of the fiscal year, up from Rs 9,624.72 crore in the same period the previous year.
The EBITDA margin was 88.2 percent in the reporting quarter, compared to 84.8 percent in the corresponding period of the prior fiscal year.
Regarding the company's transmission business, there was a marginal increase to Rs 10,991.96 crore in the second quarter of FY 24, up from Rs 10,920.5 crore during the same period the previous year.
Earnings from the telecom business also rose, reaching Rs 224.99 crore compared to Rs 205.01 crore.
Revenue from consultancy services increased to Rs 181.61 crore from Rs 141.18 crore.
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