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News Details

( As on 26/07/2024 20:50)

Power Grid Corpo Q1 net profit down 3.68% at Rs 3412.15 cr

The company reported standalone net profit of Rs 3,412.15 crore for the quarter ended June 30, 2024 as compared to Rs 3542.65 crore in the same period last year, registering a year-on-year decline of 3.68 per cent.

Net revenue of the company declined marginally by 3.53 per cent at Rs 10,068.16 crore in April-June quarter of this fiscal as against Rs 10,436.11 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 0.94 per cent to Rs 1,324.07 crore from Rs 1,336.58 crore in year ago period.

Other Income grew by 21.07 per cent at Rs 782.21 crore versus (Jun'23 Rs 646.09 crore).

Operating Profit slipped by 3.91 per cent to Rs 8,744.09 crore as against Rs 9,099.53 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.39 per cent in June quarter.

Interest grew by 1.46 per cent y-o-y to Rs 2,160.14 crore, while Taxation increased by 44.21 per cent at Rs 819.78 crore (Jun'23 Rs 568.47 crore).