Power Grid Corporation net profit rises 4% to Rs 4,320 crore in March quarter

State-owned Power Grid Corporation on Friday posted a nearly four per cent rise in consolidated net profit at Rs 4,320.43 crore in the March 2023 quarter, mainly on the back of higher revenues.

The company had reported a consolidated net profit of Rs 4,156.44 crore in the year-ago period, according to a BSE filing.

The total income in the quarter under review increased to Rs 12,557.44 crore from Rs 11,067.94 crore a year ago.

In the financial year 2022-23, the consolidated net profit declined to Rs 15,417.12 crore from Rs 16,824.07 crore in FY22.

The total income rose to Rs 46,605.64 crore in 2022-23 from Rs 42,697.90 crore in 2021-22.

The company's board, in its meeting held on Friday, has recommended a final dividend of Rs 4.75 per share for the financial year 2022-23.

This final dividend is in addition to the first interim dividend of Rs 5 per share and the second interim dividend of Rs 5 per share for the financial year 2022-23.

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