power grid q2 profit: Power Grid Q2 Results: Profit jumps 9% YoY to Rs 3,651 crore; revenue up 7%

New Delhi: Power Grid Corporation of India on Saturday reported a 9% year-on-year (YoY) rise in profit after tax (PAT) at Rs 3,651 crore for the September 2022 quarter. It reported a PAT of Rs 3,338.27 crore in the same quarter previous year.

The company reported an increase of more than 7% in revenue from operations at Rs 10,665.7 crore in the July-September 2022 period compared to a revenue of Rs 9,930.74 crore in the year-ago period.

The company had reported a profit after tax of Rs 3,765.86 crore and revenue from operations at Rs 10,446 crore in the preceding June 2022 quarter.

Power Grid’s earning per share (EPS) remained flat at Rs 5.29 apiece in Q2FY23 compared with Rs 5.28 in Q1FY23 and Rs 5.27 in Q2FY22.

For the half year ended September 30, 2022, Power Grid reported a bottomline of Rs 7,416.90 crore, which is over 21% below the profit of Rs 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 Rs 21,101.78 crore from Rs 19,709.46 crore during the same period under review.

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