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03-Mar-2024

Power Grid Corporation of India

Net up 9% on lower interest & depreciation


''Standalone net sales (including other operating income) of Power Grid Corporation of India for the quarter ended Dec 2023 has declined 0.65% to Rs 10,676.59 crore.  Operating profit margin stood flat at 88% and thus the OP was up 1% to Rs 9400.59 crore.   Other income up 10% to Rs 791.02 crore.     Provision for interest fell 17.16% to Rs 2515.55 crore.     Provision for depreciation down 4.40% to Rs 3158.59 crore.  Profit before tax grew 22% to Rs 4517.47 crore.  Provision for tax was expense of Rs 659.53 crore, compared to Rs 291.70 crore.   Profit after tax rose 13% to Rs 3857.94 crore. Regulatory income was down 52% to Rs 112.29 crore and thus the net profit was up 9% to Rs 3,970.23 crore.