Power Grid Corporation of India Q2 Results: Q2 Results Miss Estimates; Dividend Announced

On Wednesday, November 6, Power Grid Corporation of India Ltd, a state-owned entity, announced a 0.3% year-over-year (YoY) rise in net profit to ₹3,793 crore for the second quarter ending September 30. Revenue from operations saw a slight increase of 0.1%, reaching ₹11,277.8 crore compared to ₹11,267 crore in the same period last year. At the operating level, EBITDA decreased by 2.1% to ₹9,701.3 crore from ₹9,908 crore in Q2 of FY24, with the EBITDA margin at 86% versus 87.9% in the corresponding period of the previous year.

The board also approved a first interim dividend of ₹4.50 per equity share with a face value of ₹10, representing 45% of the paid-up equity share capital for FY25. This interim dividend will be distributed to shareholders on Wednesday, December 4, with a record date set for Thursday, November 14.

Power Grid Corporation of India Q2 Results Highlights

• Revenue: Up 0.1% to ₹11,277.8 crore against ₹11,267 crore in the prior-year period.
• Net Profit: 0.3% year-on-year (YoY) increase in net profit at ₹3,793 crore.
• EBITDA: Down 2.1% to ₹9,701.3 crore. EBITDA margin stood at 86%.
• Market Reaction: Shares of Power Grid Corporation of India Ltd ended at ₹318.45, up by ₹1.75, or 0.55%, on the BSE. 

Power Grid Corporation of India Management Commentary

The board has sanctioned a first interim dividend of ₹4.50 per equity share with a face value of ₹10, representing 45% of the paid-up equity share capital, for the fiscal year 2025. This dividend will be distributed to shareholders on Wednesday, December 4, with the record date set for Thursday, November 14.

Stock Market Reaction

Power Grid Corporation of India Ltd shares closed at ₹318.45 on the BSE, marking an increase of ₹1.75, or 0.55%. 

About Power Grid Corporation of India

Power Grid Corporation of India Ltd (Powergrid), a government-owned Maharatna company, operates as an electricity transmission utility, focusing on transmitting and distributing power. It owns and manages an extensive network of transmission lines and undertakes power transmission projects. In addition, Powergrid provides services in operations and maintenance for transmission systems, smart grid and telecom solutions, as well as consultancy services. Utilizing optical ground wire on its transmission lines, Powergrid operates an overhead optical fiber network, integrating advanced topology and environmental technologies to efficiently plan, coordinate, and deploy transmission networks across India. The company’s customer base extends to South Asia and Oceania, and its headquarters is located in Gurgaon, Haryana, India.