Power Grid shares in focus after co posts 4% YoY drop in Q3 profit, declares Rs 3.25/sh dividend
Power Grid Corporation of India (Powergrid) will be in focus on Tuesday after the company reported a 4% drop in its consolidated net profit for the December 2024 quarter, totaling Rs 3,861.63 crore, compared to Rs 4,028.25 crore in the same period last year, according to an exchange filing.
The company's total income decreased slightly to Rs 11,743.06 crore, down from Rs 11,819.70 crore in the previous year's October-December quarter.
The company reduced its expenses to Rs 6,828.65 crore in the latest quarter, compared to Rs 7,076.49 crore a year earlier.
Powergrid’s board also approved a second interim dividend of Rs 3.25 per equity share (face value of Rs 10 each), amounting to 32.5% of the paid-up equity share capital for 2024-25. The dividend will be distributed to shareholders on February 28, 2025.
Additionally, the board approved an investment of Rs 370.02 crore to implement the «LILO of both circuits of the 400kV Vindhyachal PS Sasan D/C line» at Hindalco Switchyard.
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