Power Grid reports 1.8% rise in consolidated net profit, EBITDA margin stood at 86%

State-owned Power Grid Corporation of India Ltd reported a 0.3% year-on-year (YoY) increase in net profit at Rs 3,793 crore for the second quarter that ended on September 30. At the operating level, EBITDA dipped 2.1% to Rs 9,701.3 crore in the second quarter of this fiscal over Rs 9,908 crore in Q2 of FY24. The EBITDA margin stood at 86% in the reporting quarter compared to 87.9% in the corresponding period in the previous fiscal.

The company has reported Revenue from operations up by 2.46% to Rs 11,277.76 crore in Q2 FY25 as against Rs 11,006.18 crore posted in Q1 FY25. On a year-on-year basis, the company in Q2 FY25 recorded marginally higher net profit as compared to Rs 3,793.02 crore in Q2 FY24. Revenue rose 0.09% YoY in Q2 FY25 from Rs 11,267.07 crore posted in Q2 FY24.

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Profit before tax was at Rs 4,431.73 crore in the second quarter of FY25, down 1.84% as against Rs 4,515.15 crore posted in Q2 FY24. On half year basis, the company's net profit rose 1.87% to Rs 7,516.94 crore on a 0.14% decrease in revenue from operations to Rs 22,283.94 crore in H1 FY25 over H1 FY24.

Further, the board also approved the proposal to sell, assign, and transfer 26% residual equity shareholding in four associate companies, Powergrid Kala Amb Transmission, Powergrid Parli Transmission, Powergrid Warora Transmission and Powergrid Jabalpur Transmission to Powergrid Infrastructure Investment Trust (PGInvIT).

The board has approved the payment of the first interim dividend of Rs 4.50 per equity share of Rs 10 each (@ 45% of the paid-up equity share capital) for the FY25. The first interim dividend will be paid to the members on Wednesday, December 4. The record date for payment of dividend will be Thursday, November 14.

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