State-owned Power Grid Corporation of India Ltd on February 3 reported a 4 percent year-on-year (YoY) decline in net profit at Rs 3,862 crore for the third quarter that ended December 31, 2024. In the corresponding quarter last year, Power Grid Corporation posted a net profit of Rs 4,028 crore, the company said in a regulatory filing.
The company's revenue from operations increased 3 percent to Rs 11,550 crore as against Rs 11,233 crore in the corresponding period of the preceding fiscal. The company's overall income decreased 1 percent to Rs 11,743 crore as against Rs 11,819.7 crore in the corresponding period of the preceding fiscal.
At the operating level, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) decreased 4 percent to Rs 10048.01 crore in the third quarter of this fiscal over Rs 10482.8 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 86 percent in the reporting quarter as compared to 89 percent in the corresponding period in the previous fiscal.
The board of directors has approved the payment of the second interim dividend of Rs 3.25 per equity share of Rs 10 each (32.5 percent of the paid-up equity share capital) for the financial year 2023-24. The second interim dividend shall be paid to the members on February 28, 2024.
The results came after the close of the market hours. Shares of Power Grid Corporation of India Ltd ended at Rs 284.5, down by Rs 5.35, or 1.85 percent, on the NSE.
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