Power Grid Shares Plunge as Profits Slip

Shares of Power Grid Corporation of India fell by over 4% following a decline in net profit for the December 2024 quarter. The firm's net profit decreased to Rs 3,861.63 crore, down from Rs 4,028.25 crore the previous year. Total income also saw a reduction.

Shares of Power Grid Corporation of India experienced a significant drop on Tuesday after the company revealed a decline in its consolidated net profit for the December 2024 quarter. The company's net profit fell by 4% to Rs 3,861.63 crore compared to Rs 4,028.25 crore during the same period last year.

This decline in profit affected the stock price, which dropped 4% to Rs 272.30 on the BSE and 4.12% to Rs 272.10 on the NSE. The corporation's total income for the quarter also witnessed a dip, decreasing to Rs 11,743.06 crore from Rs 11,819.70 crore in the prior fiscal's equivalent quarter.

To counterbalance the reduced income, Power Grid Corporation managed to cut its expenses down to Rs 6,828.65 crore during the reported quarter, from Rs 7,076.49 crore the previous year. The financial adjustments, however, could not prevent the fall in the company's share value.