Hot Pursuit     23-May-24
Power Grid slides as Q4 PAT declines YoY to Rs 4,166 cr
Power Grid Corporation of India slipped 4.07% to Rs 312.55 after the company’s consolidated net profit declined 3.62% to Rs 4,166.33 crore on 2.5% fall in revenue from operations to Rs 11,978.11 crore in Q4 FY24 over Q4 FY23.
Profit before tax stood at Rs 5,300.89 crore in March 2024 quarter, down 1.12% from Rs 5,360.86 crore posted in corresponding quarter last year.

On the segmental front, revenue from the transmission business stood at Rs 11,766.40 crore (down 4.24% YoY), telecom stood at Rs 249.68 crore (up 19.57% YoY) in Q4 FY23. Consultancy business revenue was at Rs 234.91 crore as against negative revenue of Rs 13.58 crore in corresponding period last year.

On a full year basis, the consolidated net profit rose marginally to Rs 15,573.16 crore in FY24 from Rs 15,419.74 crore in FY23.

Revenue from operations increased to Rs 45,843.10 crore in financial year ended March 2024 as against Rs 45,603.11 crore a year ago.

Meanwhile, the company’s board recommended a final dividend of Rs 2.75 per share for financial year 2023-2024, subject to the approval of the shareholders.

Further, the board of directors approved raising of funds up to Rs 5,000 crore through rupee term loan / line of credit (bank facility) from consortium of bankers of Power Grid Corporation.

Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under Ministry of Power, GoI. As of 31 March 2024, the Government of India owned a 51.34% stake in the company.

Previous News
  Power Grid Corporation of India Ltd spurts 0.78%, gains for fifth straight session
 ( Hot Pursuit - 11-Jun-24   13:00 )
  Power Grid successfully commissions project under “Reliable Communication Scheme under Central Sector for Northern Region”
 ( Corporate News - 10-Jun-24   18:19 )
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 ( Hot Pursuit - 07-Jun-24   13:05 )
  Power Grid entrusts additional charge of Director (Projects) to CMD
 ( Corporate News - 06-Jun-24   17:53 )
  Power Grid acquires Khavda IV-E2 Power Transmission
 ( Corporate News - 30-May-24   17:44 )
  Power Grid commissions project under RIL's Jamnagar refinery
 ( Corporate News - 28-May-24   14:17 )
  Board of Power Grid Corporation of India recommends final dividend
 ( Corporate News - 23-May-24   10:51 )
  Power Grid slides as Q4 PAT declines YoY to Rs 4,166 cr
 ( Hot Pursuit - 23-May-24   10:01 )
  Indices edge lower; breadth strong
 ( Market Commentary - Mid-Session 23-May-24   09:41 )
  Power Grid Corporation of India consolidated net profit declines 3.62% in the March 2024 quarter
 ( Results - Announcements 23-May-24   07:39 )
  Board of Power Grid Corporation of India approves availing Rs 5,000 cr bank facility
 ( Corporate News - 22-May-24   19:37 )
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