Power Grid Q2FY23 Results: Profit, Revenue each surge over 8% YoY; company announces Rs 5 per shar dividend - check record date

Power Grid Q2FY23 Results, Power Grid Dividend: State-owned Power Grid Corporation of India Limited reported healthy second-quarter earnings for the financial year 2022-23 (Q2FY23) on Saturday, November 5, 2022. Both top and bottom lines of the company registered year-on-year growth, however, margins saw little pressure during Q2.

Power Grid’s consolidated profit gained 8.1 per cent at Rs 3,650 crore in the July-September quarter of FY23 as compared to Rs 3,376 crore in the same period a year-ago, while consolidated revenue surged by 8.6 per cent at Rs 11,150 crore in Q2FY23 against Rs 10,268 crore in a year ago period.

Similarly, the consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of Power Grid came at Rs 9425 crore in Q2FY23, up 3.5 per cent YoY from Rs 9,110 crore in Q2FY22, whereas margins saw minimal pressure, which came at 84.5 per cent versus 88.7 per cent YoY.

In a separate filing, Power Grid announced Dividend. It said, “the Board of Directors, in their Meeting held today i.e. on 5th November, 2022, have approved the payment of Interim Dividend of Rs. 5/- per equity share of Rs. 10/- each at 50% of the paid-up equity share capital) for the Financial Year 2022-23. The Interim Dividend shall be paid to the Members on 30th November 2022.”