PowerGrid reported 8% rise in its net profit for Q2FY22, declares a dividend of INR 5

Power Grid Corporation of India reported a 8% year-on-year (YoY) rise in profit after tax (PAT) at INR 3,650 crore for the September 2022 quarter. It reported a PAT of INR 3,338.27 crore in the same quarter previous year. The company reported an increase of 9% in revenue from operations at INR 11,151 crore in the July-September 2022 period compared to a revenue of INR 10,267 crore in the year-ago period.

Power Grid’s earning per share (EPS) remained flat at INR 5.23 apiece in Q2FY23 compared with INR 5.45 in Q1FY23 and INR 4.84 in Q2FY22. For the half year ended September 30, 2022, Power Grid reported a bottom-line of INR 7,416.90 crore, which is over 21% below the profit of INR 9,423.68 crore clocked by the company in the first half of last financial year.

However, the state-run power transmission major reported an over 8% rise in the revenue from operations to INR 21,101.78 crore from INR 19,709.46 crore during the same period under review.

The company announced an interim dividend of INR 5 per equity share with a face value of INR 10 each for the quarter, which shall be paid to eligible members on November 30, 2022, it said in a separate exchange filing.