Power Grid Corporation Q3 Profit Jumps 11% to Rs 4,028 Cr
Feb 07, 2024 16:07
Power Grid Corporation's net profit surged 11% to Rs 4,028 crore in Q3 FY24, driven by higher revenues. The company's board also approved a second interim dividend of Rs 4.50 per share.
Photograph: Courtesy Power Grid Corporation
New Delhi, Feb 7 (PTI) State-owned Power Grid Corporation on Wednesday posted a 10.5 per cent rise in consolidated net profit to Rs 4,028.25 crore in the December quarter, mainly on the back of higher revenues.
Its consolidated net profit stood at Rs 3,645.29 crore in the year-ago period, the company said in a regulatory filing.
Total income increased to Rs 11,819.70 crore in the third quarter of FY24 from Rs 11,530.22 crore a year ago.
The company's board of directors, in their meeting on Wednesday, approved the payment of second interim dividend of Rs 4.50 per equity share of Rs 10 each (at the rate of 45 per cent of the paid-up equity share capital) for 2023-24.
The second interim dividend shall be paid to members on March 5, 2024.
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