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).

See Also: Micro Cap Stock Jumps 5% After Bagging Order From Tata Group

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.

Read Next: Google’s Gemini Is ChatGPT’s Newest And Greatest Competitor Yet: Here’s How You Can Use It Within Bard


Engineered by Benzinga Neuro, Edited by Utkarsh Roshan


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EquitiesGovernmentDividendsMarketsTrading IdeasPower Grid Corporation Of India

Loading...