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PowerGrid posts 52% hike standalone net profit in Q4FY19

The total standalone income for the March quarter settled at Rs 9,610.24 crore as opposed to Rs 8,098.93 crore a year ago

New Delhi: State-run PowerGrid Corporation posted a 52 percent hike in standalone net profit at Rs 3,053.56 crore in the fourth quarter of financial year 2018-19, primarily because it netted higher revenues. The standalone net profit for the corresponding period a year ago stood at Rs 2,010.31 crore, a regulatory filing said on Wednesday. The total standalone income for the March quarter settled at Rs 9,610.24 crore as opposed to Rs 8,098.93 crore a year ago.

Standalone net profit jumps to Rs 9,938.55 cr

For the entire financial year 2018-19, PowerGrid’s standalone net profit increased to Rs 9,938.55 crore from Rs 8,244.65 crore in previous fiscal. Total standalone income for the period stood at Rs 35,618.07 crore, up from Rs 30,766.32 crore in 2017-18.

Consolidated net profit at Rs 10,033.52 crore

For FY2018-19, the consolidated net profit rose to Rs 10,033.52 crore in 2018-19 from Rs 8,204 crore in the previous fiscal. Total consolidated income also went up to settle at Rs 35,661.32 crore in the fiscal from Rs 30,430.54 crore in 2017-18. PowerGrid’s board has recommended a final dividend of Rs 2.50 per share (face value Rs 10 each). For 2018-19, the total dividend (including interim dividend) is Rs 8.33 per share. The interim dividend paid by the PSU was Rs 5.83 per share.