Power Grid Corporation of India on Wednesday reported a 2.2% decline in consolidated net profit to Rs 3,292.97 crore in Q3 FY22 from Rs 3,367.7 crore posted in Q3 FY21.
Net revenue from operations rose by 3% to Rs 10,446.88 crore in Q3 FY22 from Rs 10,142 crore posted in the same quarter last year. Profit before tax fell 6% to Rs 4,178 crore in Q3 FY22 over Q3 FY21.On the margins front, the PSU company's operating margin stood at 87% in Q3 FY22, slightly lower than 89% recorded in the corresponding period last year. Net profit margin marginally declined to 31% in Q3 FY22 from 32% registered in the same period last year.
The company also announced a second interim dividend for the current fiscal at Rs 5.5 per share. It will credit the dividend on March 8, the company said.
Shares of PowerGrid were trading 1.84% higher at Rs 213.15 on BSE in early trade.
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 2021, the Government of India owned 51.34% stake in the company.
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