Power grid shares fall over 5 percent post Q4 results

Power Grid's total income declined to Rs 12,305.39 crore in the quarter under review as compared to Rs 12,557.44 crore in the corresponding period of previous year.

Power grid shares fall over 5 percent post Q4 results

State-run Power Grid shares plunged over four percent in early trade on May 23, as the power sector PSU reported a gloomy performance in the FY 24 quarterly results.

At 9.30 am, Power Grid's stock price staggered by four percent to Rs 309, making the public-sector power major the top loser on the benchmark Nifty 50 index.

Power Grid's total income declined to Rs 12,305.39 crore in the quarter under review as compared to Rs 12,557.44 crore in the corresponding period of previous year.

Read Also : Powergrid won Silver awards at ET Government PSU Leadership & Excellence Awards 24

For FY24, the consolidated net profit rose to Rs 15,573.16 crore from Rs 15,419.74 crore a year ago. Total income in the fiscal rose to Rs 46,913.12 crore as against Rs 46,605.64 crore in the year-ago period.

For Q4FY24, on a standalone basis, the company has reported a Profit After Tax of Rs 4,128 crores and a Total Income of Rs 12,254 crores.

On a consolidated basis, the company has reported a PAT of Rs 4,166 crores and a Total Income of Rs 12,305 crores.

 

Read Also : GRSE bags export order for commercial vessels

For FY24, on a standalone basis, the company posted PAT of Rs 15,475 crores and Total Income (including discontinued operations) of Rs 46,215 crores.  On a consolidated basis, the company posted PAT of Rs 15,573 crores and Total Income of Rs 46,913 Crores.

Read Also : AI-Driven Legal Search Startup DeepJudge Raises $10.7M in Seed Round Led by Coatue