Power Grid Q3 results, net profit declines 4.1% YoY at Rs 3861.6 crore, declares second interim dividend

This dividend will be payable to members on Friday, February 28, 2025. Additionally, the record date for the dividend payment is set for Friday, February 7, 2025.

Power Grid Q3 results, net profit declines 4.1% YoY at Rs 3861.6 crore, declares second interim dividend
Power Grid Q3 results, net profit declines 4.1 YoY at Rs 3861.6 crore, declares second interim dividend

Power Stock, Power Grid Corporation of India Ltd has reported a 4.1% year-on-year (YoY) decline in net profit at Rs 3,861.6 crore for the third quarter that ended on December 31, 2024. In the corresponding quarter of the previous fiscal, the company posted a net profit of Rs 4,028.3 crore, the company said in a regulatory filing.

The company's revenue from operations dipped 3% to Rs 11,233 crore as against Rs 11,579.8 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA fell 6.9% to Rs 9,537.9 crore in the third quarter of this fiscal over Rs 10,242.9 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 84.9% in the reporting quarter as compared to 88.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortization.

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The board has approved the payment of a second interim dividend of Rs 3.25 per equity share (face value of Rs 10 each), which amounts to 32.50% of the paid-up equity share capital, for the financial year 2024-25.

This dividend will be payable to members on Friday, February 28, 2025. Additionally, the record date for the dividend payment is set for Friday, February 7, 2025.

Furthermore, the Power Grid board has sanctioned an investment proposal for implementing the LILO (Line-In Line-Out) for both circuits of the 400kV Vindhyachal PS—Sasan D/C (Double Circuit) Line at the Hindalco Switchyard. The estimated cost of this project is Rs 370.02 crore, and it is scheduled to be commissioned within 30 months from the effective date, with a targeted completion by December 2026.

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