Government Receives ₹1,910 Cr Dividend From Power Grid Corporation

The Government of India has received a whopping ₹1,910 crore from Power Grid Corporation of India (PGCIL) as a dividend tranche.

What Happened: The Department of Investment and Public Asset Management, or DIPAM, revealed via a tweet that they received a dividend tranche amounting to ₹1,910 crore from the Power Grid Corporation of India Ltd (PGCIL).

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Q2 Earnings: In the September quarter, Powergrid Corporation of India reported a consolidated net profit of ₹3,781.4 crore. The consolidated revenue from operations for the September 2023 quarter showed a slight increase, reaching ₹11,267 crore. This represented a growth of 1% compared to ₹11,150.5 crore in the corresponding quarter of the previous year.

After the second quarter, it announced a ₹4/share interim dividend. The government owns a 51.34% stake in the company.

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Posted In: EquitiesGovernmentDividendsMarketsTrading IdeasPower Grid Corporation Of India