Power Grid Corp Profit Dips 4% in Dec Quarter

New Delhi, Feb 3 (PTI) Power Grid Corporation of India (Powergrid) has reported a 4 per cent decline in its consolidated net profit to Rs 3,861.63 crore for the December 2024 quarter.

It had posted Rs 4,028.25 crore net profit in the year-ago quarter, the company said in an exchange filing.

The company's total income reduced to Rs 11,743.06 crore from Rs 11,819.70 crore in the October-December quarter of the preceding fiscal.

It has reduced expenses to Rs 6,828.65 crore in the quarter against Rs 7,076.49 crore a year ago.

The company's board also approved a payment of second interim dividend of Rs 3.25 per equity share of Rs 10 each (at the rate of 32.50 per cent of the paid-up equity share capital) for 2024-25.

The dividend will be paid to the members on February 28, 2025.

Further, the board also approved investment for "implementation of LILO of both circuits of 400kV Vindhyachal PS (power station )' Sasan D/C (direct current) line at Hindalco Switchyard at an estimated cost of Rs 370.02 crore.