Why Power Grid Shares Are In Focus Today

Power Grid Corporation of India shares were in focus on Wednesday after the central public sector undertaking reported a 3.59% increase in its consolidated net profit, reaching ₹3,781.42 crore for the quarter ending September 30, up from ₹3,650.29 crore the previous year. The rise in profits stems from relatively lower expenses, although higher taxes partially offset these gains.

Power Grid Corporation of India Q2 Performance: The company, a Central Public Sector Undertaking (CPSU), has announced an interim dividend of ₹4 per equity share of ₹10 each, amounting to 40% of the paid-up equity share capital for the fiscal year 2023-24. Shareholders will receive this dividend on December 6.

Operating revenue rose by 1.04% to ₹11,267.07 crore, compared to ₹11,150.57 crore in the same quarter last year. Overall, the company’s consolidated revenue saw a slight increase of 1.6% to ₹11,530.43 crore.

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Power Grid’s earnings before interest, tax, depreciation, and amortization (EBITDA) climbed 5.7% to ₹10,171.73 crore, with the EBITDA margin reaching 88.2%, up from 84.8% in the previous fiscal’s corresponding period.

The transmission business recorded a slight revenue increase to ₹10,991.96 crore. Meanwhile, the telecom business’s earnings rose to ₹224.99 crore, and consultancy services revenue increased to ₹181.61 crore, marking a continued growth trajectory for the company.

Price Action: Power Grid Corporation of India Ltd shares were trading 0.34% higher at ₹208.70 on Wednesday morning at market open.

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