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February 22, 2024

Power Sector Govt Co Declares 4% Surge In PAT, Rs 4.75/Share Dividend

Power Sector Govt Co Declares 4% Surge In PAT, Rs 4.75/Share Dividend


oi-Renu Baliyan


Large cap company operating in the Power sector, Power Grid Corporation of India Ltd on Friday announced approximately 4% YoY surge in consolidated net profit to Rs 4320 crore for the ended March. Board of directors of the company recommended a final dividend of Rs 4.75/- per equity share for FY 2022-23. Meanwhile, Power Grid Corporation share fell 0.64% on Friday to close at Rs 233.80 apiece. Check
details below:

Board of Power Grid Corporation Recommends Dividend: According to the exchange filing of the company, “it is informed that Board in its meeting held on 19th May, 2023 has recommended a final dividend of Rs. 4.75/- per share (i.e. @ 47.5% on the paid up equity share capital) for the Financial Year 2022-23 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.”

Power Sector Govt Co Declares 4% Surge In PAT, Rs 4.75/Share Dividend

The final dividend would be paid within 30 days from the date of its declaration at the AGM. This final dividend is in addition to the 1st Interim Dividend of Rs. 5/- per share i.e. @ 50% on the paid up equity share capital paid on 30th November, 2022 and 2nd Interim Dividend of Rs. 5/- per share (i.e. @ 50% on the paid up equity share capital) paid on 24th February, 2023 for the Financial Year 2022-23.

Power Grid Corporation Q4: The company’s consolidated revenue for the quarter soared approximately 15% YoY to Rs 12,264 crore. Power Grid declared a dip of 8.4% for FY23 in its net profit to Rs 15,417.12 crore in spite of 10% revenue surge to Rs 45,581.28 crore. Meanwhile, operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), soared 17% YoY for the quarter under consideration to Rs 10,909.62 crore and operating margins jumped 155 basis points to 88.96%.

Power Grid Corporation Stock Performance & Return: Last trading price of Power Grid Corporation share is Rs 233.80 apiece with intraday fall of 0.64% on BSE. The stock’s 52-week high price is Rs 249.45 apiece and 52-week low price is Rs 186.35 apiece, respectively. The company’s market capitalisation is Rs 1,63,086.09 crore. Power Grid Corporation share witnessed a rally of 9% in last 3-months, 7% in last 6-months, and 2% in last 1-year. In last 2-years, Power Grid Corporation stock jumped 33% and 97% in last 3-years.

About: Power Grid Corporation of India Limited is a Schedule ‘A’, ‘Maharatna’ Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. POWERGRID is a listed Company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public.

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Story first published: Saturday, May 20, 2023, 10:02 [IST]

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