Amidst a recent development, the Maharatna PSU Power Grid Corporation of India Limited (PGCIL) announced its financial results for the period ending fourth quarter (Q4 FY24) where it showed a net profit of Rs 4,128 crores and total income of Rs 12,254 crores. On a consolidated basis, the company has reported a net profit of Rs 4,166 crores and total income of Rs 12,305 crores.
For FY’24, on standalone basis, the company posted net profit of Rs 15,475 crores and total income (including discontinued operations) of Rs 46,215 crores. On a consolidated basis, the company posted net profit of Rs 15,573 crores and a total income of Rs 46,913 crores.
In FY24, the Power Grid along with its subsidiaries added 19,720 MVA transformation capacity, 6 sub-stations and 4,036 circuit kilometres of transmission lines. Power Grid has successfully commissioned its five tariff-based competitive bidding (TBCB) subsidiaries i.e POWERGRID Ramgarh Transmission Limited, POWERGRID Bikaner Transmission System Limited, POWERGRID Meerut Simbhavali Transmission Limited, POWERGRID Gomti Yamuna Transmission Limited and POWERGRID Neemuch Transmission System Limited.
The Maharatna PSU proposed a final dividend of 27.50% (Rs 2.75 per share on a face value of Rs 10/- each) in addition to first and second interim dividends of Rs 8.50/- per share already paid for the FY’24. The total dividend for the year thus amounts to Rs 11.25 per share which is 1.69 percent higher than that of previous year total dividend, adjusted of bonus issue.
