Power Grid Corporation net profit up over 8% in Q2; declares 50% dividend

State-owned Power Grid Corporation on Saturday posted over eight per cent rise in consolidated net profit at Rs 3,650.16 crore in the September quarter of FY23, mainly on the back of higher revenues.

The consolidated net profit of the company was Rs 3,376.38 crore in the quarter ended on September 30, 2021, a BSE filing showed.

The total income of the company rose to Rs 11,349.44 crore in the quarter from Rs 10,514.74 crore in the same period a year ago.

Board of directors, in its meeting held on Saturday, approved the payment of an interim dividend of Rs 5 per equity share of Rs 10 each (@50 per cent of the paid-up equity share capital) for the financial year 2022-23.