PowerGrid Q3 Results: Profit declines 2% to Rs 3,292.97 crore; revenue up 3%

PowerGrid Corporation on Wednesday reported December quarter consolidated net profit at Rs 3,292.97 crore, down 2.21 per cent compared to Rs 3,367.71 crore reported in the same quarter last year.

Revenue from operations came in at Rs 10,446.88 crore, up 3 per cent against Rs 10,142.48 crore in the year-ago quarter.

The company also announced a second interim dividend for the current fiscal at Rs 5.5 per share. It will credit the dividend on March 8, the company said.


The utility company said on a standalone basis its transmission segment revenue stood at Rs 9,800.64 crore for December quarter, compared with Rs 9,552.11 crore in the year ago period.

Consultancy revenue jumped sharply year-on-year to Rs 171.43 crore but was down sequentially.

The company said its operating margins for the quarter stood at 87 per cent, down 2 percentage points year-on-year and 1 percentage point quarter-on-quarter. Net profit margins stood at 31 per cent down 1 per cent sequentially and annually.

Ahead of the earnings, Power Grid shares closed down 0.05 per cent at Rs 209.95.