Power Grid shares slip nearly 4% after Q3 profit drops 4% YoY

Shares of Power Grid Corporation of India (Power Grid) dropped 3.6% on the BSE, reaching a day's low of Rs 273.30 on Tuesday, February 4, after the company reported a 4% decline in its consolidated net profit for the December 2024 quarter. The profit totaled Rs 3,861.63 crore, compared to Rs 4,028.25 crore in the same period last year, according to an exchange filing.

The company's total income decreased slightly to Rs 11,743.06 crore, down from Rs 11,819.70 crore in the previous year's October-December quarter.

The company reduced its expenses to Rs 6,828.65 crore in the latest quarter, compared to Rs 7,076.49 crore a year earlier.


Powergrid’s board also approved a second interim dividend of Rs 3.25 per equity share (face value of Rs 10 each), amounting to 32.5% of the paid-up equity share capital for 2024-25. The dividend will be distributed to shareholders on February 28, 2025.

Additionally, the board approved an investment of Rs 370.02 crore to implement the "LILO of both circuits of the 400kV Vindhyachal PS Sasan D/C line" at Hindalco Switchyard.

Shares of the company rose 2.42% and outperformed its sector by 8.26% in the past year. Meanwhile, they offered 79.08% returns in the last three years. According to Trendlyne, the stock has better one-year returns than sector and industry but worse returns than Sensex and Nifty50.

Power Grid Corporation of India, incorporated in 1989, is a largecap company with a market cap of Rs 2,63,951.14 crore operating in the power sector. The company is principally engaged in the implementation, operation, and maintenance of Inter-State Transmission System (ISTS), telecom, and consultancy services.