Indian statutory corporation, Power Grid Corporation of India Limited (PGCIL) on February 9 released its third-quarter results for the financial year 2021-2022 ( Q3FY22). It reported a decline of 2.2 per cent in the consolidated net profit at Rs 3,293 crore against Rs 3,368 crore in the same quarter a year ago.
According to the regular filling, the state-owned company’s consolidated revenue saw a jump of 3 per cent at Rs 10,447 crore compared to Rs 10,142 crore in the year-ago quarter. The revenue increased by 1.8 per cent from Rs 10,267 crore from the previous quarter ended in Sept.
Furthermore, the second interim dividend for FY22 is at Rs. 5.50 a share which is to be paid on March 9, 2022. Earnings before interest and tax (EBIT) for the transmission business dropped by 9 per cent year-on-year to Rs 5,790 crore against Rs 5,460 crore a year ago. The company’s revenue from the consultancy business increased at 41 per cent at Rs 173 crore on YoY from Rs 123 crore in the same period last year. However, on a sequential basis, the business was down 8.7 per cent from Rs 190 crore.
EBIT for the consultancy business enhanced by 57 per cent on-year to Rs 58.26 crore, while sequentially, there was a decline of 38.7 per cent.
The shares of the state-owned firm stood at 209.95 INR with a jump of 0.048% today in the closing session at the National Stock Exchange.
Power Grid operates throughout India and covers 90% of the country’s interstate and inter-regional electric power transmission system and its business segments include Transmission, Consultancy, Telecom and ULDC/ RLDC.