Steady Profits and Strategic Moves: PGCIL's Latest Quarter Review

Power Grid Corporation of India reported stable profits for the July-September quarter with a slight increase in total income. It announced an interim dividend and approved the transfer of a 26% stake in four associate companies to POWERGRID Infrastructure Investment Trust.

The Power Grid Corporation of India (PGCIL), a state-owned enterprise, maintained its consolidated net profit nearly unchanged at Rs 3,793.02 crore during the July to September quarter.

According to a regulatory filing, the net profit slightly rose from Rs 3,781.42 crore compared to the same period in the previous year. Additionally, the company's total income increased to Rs 11,845.93 crore from Rs 11,530.43 crore year over year.

In strategic developments, the PGCIL board greenlit an interim dividend of Rs 4.50 per equity share and the transfer of a 26% equity stake in four associate companies to the POWERGRID Infrastructure Investment Trust (PGInvIT).