Power Grid Q2 consolidated profit rises 8% YoY to ₹3,650 crore
1 min read . Updated: 05 Nov 2022, 02:40 PM IST
Premium- The company's consolidates revenue rose by 9 per cent to ₹11,151 crore
State owned Power Grid Corporation on Saturday reported a rise of 8 per cent in consolidated net profit to ₹3,650 crore for the September 2022 quarter. This is against a consolidated net profit of ₹3,376 crore in the year ago period.
The company's consolidates revenue rose by 9 per cent to ₹11,151 crore as against ₹10,267 crore in the Q2FY22.
However, sequentially Power Grid Corporation's net profit declined by 4 per cent from ₹3,801 crore recorded in Q1FY23.
The revenues from transmission business were higher by 9 per cent YoY to ₹10,920, while the telecom business witnessed a growth of 7 percent on year at ₹205 crore. However the consultancy segment revenue declined by 25 per cent to ₹141.18 crore.
For the half year ended September 2022, Power Grid reported a bottomline of ₹7,416.90 crore, which is over 21 per cent below the profit of ₹9,423.68 crore clocked by the company in the first half of last financial year.
The Board of the company approved the payment of Interim Dividend of Rs. 5/- per equity share of Rs. 10/- each (@50 percent of the paid-up equity share capital) for the Financial Year 2022-23. The said Interim Dividend shall be paid to the shareholders on 30th November, 2022.
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On Friday, shares of Power Grid were down by 0.83 per cent at ₹226.15 apiece on the BSE.
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