State-owned Power Grid Corporation of India on Tuesday (November 7) reported a 3.6% year-on-year (YoY) rise in net profit at ₹3,781.4 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Power Grid Corporation of India posted a net profit of ₹3,650.3 crore, the company said in a regulatory filing. The company's revenue from operations increased by 1% to ₹11,267.1 crore against ₹11,150.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 5.1% to ₹9,908.4 crore in the second quarter of this fiscal over ₹9,425.9 crore in the year-ago period.

The EBITDA margin stood at 87.9% in the reporting quarter compared to 84.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Info Edge Q2 Results: Net profit doubles to ₹205 crore; ₹10 dividend declared

Power Grid has declared an interim dividend of ₹4 per equity share of ₹10 each (at 40% of the paid-up equity share capital) for the financial year 2023-24.

"...it is also informed that the board of directors have approved the payment of an interim dividend of Rs. 4/- per equity share of Rs. 10/- each (@40% of the paid-up equity share capital) for the Financial Year 2023-24. The interim dividend shall be paid to the members on 06th December 2023," the company said in a filing.

The results came after the close of the market hours. Shares of Power Grid Corporation of India Ltd ended at ₹208.00, down by ₹0.20, or 0.096%, on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Nov 7, 2023 7:26 PM IST