Q4 results: PowerGrid’s net profit falls 4% at ₹4,166.33 crore, declares final dividend of ₹2.75 per share
₹4,166.33 crore in the March quarter, mainly due to a marginal decline in income.ALSO READ: Power Sector: Is it heading towards another collapse?Its consolidated net profit stood at ₹4,322.87 crore in the same quarter a year ago.In a stock exchange filing, PowerGrid said its total income declined to ₹12,305.39 crore in the fourth quarter as compared to ₹12,557.44 crore in the same period a year ago.For full fiscal year 2024, PowerGrid’s consolidated net profit rose to ₹15,573.16 crore from ₹15,419.74 crore a year ago.Its total income for FY24 surged to ₹46,913.12 crore as compared with ₹46,605.64 crore in the FY23.ALSO READ: EESL signs energy efficiency pacts worth ₹500 crorePowerGrid said that its board of directors recommended a final dividend of ₹2.75 per equity share (i.e. 27.5 per cent 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 (AGM) of the company.The final dividend will be paid within 30 days from the date of its declaration at the AGM, added the company.This final dividend is in addition to the first interim dividend of ₹4 per equity share (i.e.
40 per cent on the paid-up equity share capital) paid on December 6, 2023, and the second interim dividend of ₹4.50 per equity share (i.e. 45 per cent on the paid-up equity share capital) paid on March 5, 2024.The company also said that its board has approved fund raising of ₹5,000 crore from a consortium of bankers.Shares of Power Grid Corporation closed at ₹325.80, up 0.11 per cent on the BSE on Wednesday.Milestone Alert!
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