Shares of Power Grid Corporation of India gains on reporting a 4% rise in Q4 consolidated net profit!

Power Grid Corporation of India has reported results for the fourth quarter (Q4) and the year ended March 31, 2023. 

Quarterly and Annual Results 

The company has reported a 2.46% fall in net profit at Rs 4,214.40 crore for the quarter under review as compared to Rs 4,320.64 crore for the same quarter in the previous year. However, the total income of the company increased by 12.30% at Rs 12,288.31 crore for Q4FY23 as compared to Rs 10,941.93 crore for the corresponding quarter previous year. 

On a consolidated basis, the company has reported a 3.95% rise in its net profit at Rs 4,320.43 crore for the fourth quarter ended March 31, 2023, as compared to Rs 4,156.44 crore for the same quarter in the previous year. The total income of the company increased by 13.46% at Rs 12,557.44 crore for Q4FY23 as compared to Rs 11,067.94 crore for the corresponding quarter previous year. 

For the year ended March 31, 2023, on a consolidated basis, the company has reported an 8.36% fall in its net profit at Rs 15,417.12 crore as compared to Rs 16,824.07 crore for the previous year. However, the total income of the company increased by 9.15% at Rs 46,605.64 crore for the year under review as compared to Rs 42,697.90 crore for the year ended March 31, 2022. 

Share price movement of Power Grid Corporation of India Limited        

Today, the stock opened at Rs 234.85, with a high and low of Rs 239 and Rs 233.95. Currently, the stock is trading at Rs 234.15, up by 0.15%. The stock has a 52-week high of Rs 249.45 and a 52-week low of Rs 186.35. 

Company profile         

Power Grid Corporation of India Limited is a Maharatna CPSU and India’s one of largest electric power transmission companies.