Power Grid Shares Plunge 4% After Earnings Dip

New Delhi, Feb 4 (PTI) Shares of Power Grid Corporation of India dropped over 4 per cent on Tuesday after the firm reported a 4 per cent decline in consolidated net profit to Rs 3,861.63 crore for the December 2024 quarter.

The stock dropped 4 per cent to Rs 272.30 on the BSE.

At the NSE, it tanked 4.12 per cent to Rs 272.10.

Power Grid Corporation had posted Rs 4,028.25 crore net profit in the year-ago quarter, the company said in an exchange filing on Monday.

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 under review, as against Rs 7,076.49 crore a year ago.