Power Grid Corporation of India advanced 2.13% to Rs 220.95 after the company's consolidated net profit rose 10.7% to Rs 3,645.34 crore on 7.8% increase in revenue from operations to Rs 11,261.78 crore in Q3 FY23 over Q3 FY22.
Consolidated profit before tax fell 11.85% to Rs 3,743.47 crore in the quarter ended 31 December 2022 as against Rs 4,246.79 crore reported in the same period last year.Total expenses jumped 20.54% year on year to Rs 7,786.91 crore in Q3 FY23. Finance cost was at Rs 3,011.75 crore (up 63.23% YoY) while other expenses stood at Rs 755.72 crore (up 5.41% YoY).
The company's revenue from Transmission stood at Rs 11,055.39 crore (up 7.6% YoY), revenue from Consultancy was at Rs 173.63 crore (up 0.20% YoY) and revenue from Telecom stood at Rs 209.60 crore (up 13.21% YoY) in Q3 FY23.
On the margins front, the PSU company's operating margin declined to 88% in Q3 FY23 as against 90% reported in Q3 FY22. Net profit margin was constant at 32% in Q3 FY23 as compared to Q3 FY22.
Meanwhile, the company's board has approved the payment of second interim dividend of Rs 5 per equity share for the financial year 2022-23. The dividend shall be paid to the members on 24 February 2023.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 31 December 2022, the Government of India owned a 51.34% stake in the company.
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