Powergrid's Quarterly Profit Dips by 4% Amid Investment Plans

Power Grid Corporation of India reported a 4% drop in its consolidated net profit for the December 2024 quarter, totaling Rs 3,861.63 crore. Despite a slight decline in total income, the company reduced its expenses and approved a second interim dividend and new investment plans.

The Power Grid Corporation of India (Powergrid) announced a 4 percent decline in profits for the December 2024 quarter. The company's consolidated net profit stands at Rs 3,861.63 crore, a decrease from the Rs 4,028.25 crore reported during the same period last year.

Powergrid's total income also saw a slight drop, resulting in Rs 11,743.06 crore compared to Rs 11,819.70 crore from the previous fiscal year's corresponding quarter. In an effort to mitigate the financial dip, the company successfully cut expenses down to Rs 6,828.65 crore from Rs 7,076.49 crore.

Despite the profit decline, the board has approved the payment of a second interim dividend and greenlighted a new investment project, including the implementation of LILO of 400kV circuits at Hindalco Switchyard, with an estimated investment of Rs 370.02 crore.