Shares of Power Grid Corporation of India Limited (PGCIL) dropped nearly 2% following the announcement of its second-quarter financial results. As of 10:20 am, the stock was trading 1.30% lower at ₹314.35 on the NSE, reflecting investor concerns over missed estimates and a decline in EBITDA.
The state-owned company reported a consolidated net profit of ₹3,793.02 crore for the July-September quarter, remaining almost flat compared to ₹3,781.42 crore in the same period last year. The total income rose to ₹11,845.93 crore, up from ₹11,530.43 crore a year ago. However, the company’s EBITDA fell by 2.1% year-on-year, contributing to the stock’s decline.
In addition, PGCIL’s board approved the payment of a first interim dividend of ₹4.50 per equity share for FY 2024-25. The board also authorized the sale of a 26% residual equity shareholding in four associate companies—POWERGRID Kala Amb Transmission, POWERGRID Parli Transmission, POWERGRID Warora Transmission, and POWERGRID Jabalpur Transmission—to POWERGRID Infrastructure Investment Trust (PGInvIT).
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