Power Grid Q1 Results Net Profit For The First Quarter Fell By 6 To Rs 3 543 Crore

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Power Grid Q1 Results: Net profit for the first quarter fell by 6% to Rs 3,543 crore

ri-calendar-2-lineAug 1, 2023

By: BlinkX Research Team

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The state-run Power Grid Corporation of India Ltd. reported that its first-quarter net profit fell by 5.9% YoY to Rs 3,542.7 crore.

Power Grid Corporation of India had a net profit of Rs 3,766 crore for the same period last year, the company stated in a regulatory filing.

Total revenue for the quarter decreased by 0.1% to Rs 10,436.1 crore in the period under review from Rs 10,446 crore in the same quarter of the prior fiscal year.

Operating-level EBITDA increased by 3.4% to Rs 9,099.4 crore in the first quarter of this fiscal year compared to Rs 8,802 crore in the same time last year.

In the reporting quarter, the EBITDA margin was 87.2%, up from 84.3% in the same period of the prior fiscal year. 

The company's board of directors has suggested issuing bonus shares in a 1:3 ratio, or one new equity bonus share worth Rs 10 per share for every three existing equity shares worth Rs 10 each that are fully paid up.

Additionally, during the FY2024–25, the board suggested raising funds upto Rs 12,000 crore from the domestic market by issuing secured or unsecured, non-convertible, non-cumulative or cumulative, redeemable, taxable or tax-free debentures or bonds under private placement in one or more tranches.

Source: Media Reports

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