PowerGrid posts strong Q4 profit at Rs 15,573 cr

New Delhi: Power Grid Corporation of India Limited (PGCIL), a government-owned company responsible for power transmission in India, has announced robust financial results for the fourth quarter (Q4) of FY'24 and the entire financial year 2023-24 (FY'24). 

The company reported Profit After Tax of Rs 15,573 crores, Total Income of Rs 46,913 crores, Capital Expenditure of 12,500 crore and Capitalized assets worth Rs 7,618 crore (excluding FERV) for FY24 on a consolidated basis.

 

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Also, the company recommended a final dividend of Rs. 2.75/- per share (i.e. @ 27.5% on the paid-up equity share capital) for the Financial Year 2023-24 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. The final dividend would be paid within 30 days from the date of its declaration at the AGM.

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This final dividend is in addition to the 1st Interim Dividend of Rs. 4.00/- per share i.e. @ 40% on the paid-up equity share capital paid on 6th December 2023 and 2nd Interim Dividend of Rs. 4.50/- per share (i.e. @ 45% on the paid-up equity share capital) paid on 5th March 2024 for the Financial Year 2023-24.

In its BSE Filing, PGCIL also mentioned raising of funds through arranging a Rupee Term Loan / Line of Credit (Bank Facility) for Rs. 5,000 Crore from the Consortium of Bankers of POWERGRID.

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