Power Grid Shares Surge 7% on Strong Q3 Earnings
Feb 08, 2024 11:08
Power Grid Corporation shares climbed over 7% on Thursday after reporting a rise in consolidated net profit to Rs 4,028.25 crore in the December quarter.
Photograph: Courtesy Power Grid Corporation
New Delhi, Feb 8 (PTI) Shares of Power Grid Corporation climbed 7.50 per cent on Thursday morning after the company posted a rise in consolidated net profit to Rs 4,028.25 crore in the December quarter.
The stock jumped 7.42 per cent to Rs 287.85 on the BSE. On the NSE, it climbed 7.50 per cent to Rs 288.05.
The stock was the biggest gainer among the Sensex and Nifty firms.
Power Grid's consolidated net profit jumped 10.5 per cent to Rs 4,028.25 crore in the latest December quarter, mainly on the back of higher revenues, according to a regulatory filing on Wednesday.
The same was at Rs 3,645.29 crore in the year-ago period.
Its total income increased to Rs 11,819.70 crore in the third quarter of the current fiscal from Rs 11,530.22 crore in the same period a year ago.
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