Power Grid Corporation Of India Q1 Results Revenue ₹11,006.18 Cr & Net Income ₹3,786.24 Cr

Meta: Power Grid Corporation of India’s Q1 results for June 2024 reports a revenue of ₹11,006.18 Cr, down 8.11% from the previous quarter and their Net income dropped to ₹3,786.24 Cr, a decrease of 12.81% QoQ.

Power Grid Corporation Of India Q1 Results: Power Grid Corporation of India Q1 financial results show several changes in their performance. In June 2024, their total revenue was ₹11,006.18 crores, which is 8.11% less than the previous quarter and a slight 0.38% decrease compared to the same quarter last year. Their expenses for selling, general, and administrative costs were ₹617.36 crores, which decreased by 4.14% from the last quarter but increased by 2.80% from a year ago.

Power Grid Corporation Of India’s depreciation and amortization expenses, which are the costs for the wear and tear of their assets, were ₹3,200.39 crores. This is a small decrease of 1.80% from the previous quarter and 2.00% from the previous year. Other operating expenses went up significantly by 15.89% from the last quarter, totaling ₹786.35 crores, but only increased by 2.79% compared to last year.

Total operating expenses fell by 1.37% from the last quarter but remained almost the same as last year. Operating income, which is the profit before other expenses, dropped by 15.73% from the last quarter but was almost the same as last year. Net income before taxes decreased by 12.99% from the previous quarter but grew by 2.22% from last year. Net income dropped by 12.81% compared to the previous quarter and 3.97% from last year. The diluted normalized earnings per share (EPS), a measure of profit available to each share, decreased by 13.79% from the last quarter but increased by 3.36% compared to the same time last year.

Here are the quarterly results for Power Grid Corporation of India for Q1, with comparisons to the previous quarter (QoQ) and the same quarter last year (YoY):

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Power Grid Corporation Of India Q1 Results

Power Grid Corporation of India reported its financial performance for the quarter ending June 30, 2024. Their revenue from operations was ₹10,068.16 crore, which is a decrease compared to ₹11,050.54 crore in the previous quarter but a slight decrease from ₹10,244.82 crore a year ago. The company’s total income, including other income, was ₹10,850.37 crore, down from ₹12,253.72 crore in the last quarter and slightly lower than ₹10,888.23 crore a year ago.

Power Grid Corporation of India’s expenses for the quarter included employee benefits at ₹615.62 crore, finance costs at ₹2,160.14 crore, depreciation and amortization at ₹3,073.21 crore, and other expenses at ₹708.45 crore. This brings the total expenses to ₹6,557.42 crore, which is lower than ₹7,045.51 crore in the previous quarter and close to ₹6,502.66 crore from the same quarter last year.

Power Grid Corporation of India’s profit before tax was ₹4,292.95 crore, which is lower compared to ₹5,208.21 crore in the previous quarter. The profit for the period, after accounting for taxes and regulatory adjustments, was ₹3,412.15 crore, slightly down from ₹4,127.77 crore last quarter and ₹3,542.65 crore a year ago. The earnings per share from continuing operations were ₹3.67, down from ₹4.44 in the previous quarter.

Here is a summary of the unaudited standalone financial results for Power Grid Corporation of India Limited for the quarter ending June 30, 2024:

Power Grid Corporation Of India Stock Performance

The Power Grid Corporation of India table provides a snapshot of the company's financial performance. Its market capitalization is ₹3,12,733 Crore, meaning this is the total value of all its shares combined. The current stock price is ₹336, with a high of ₹362 and a low of ₹182 over a period. 

Here's the information in table format:

Quarterly Results 

The table shows the quarterly financial results of Power Grid Corporation of India from December 2023 to June 2024. It details the company's sales, expenses, operating profit, and net profit, along with other financial metrics. 

Here are the financial details for December 2023, March 2024, and June 2024:

About Power Grid Corporation Of India 

Power Grid Corporation of India , founded on October 23, 1989, is a major state-owned company in India. It is responsible for transmitting electricity across the country. Headquartered in Gurugram, Haryana, Power Grid plays a crucial role in managing and operating high-voltage power transmission systems. It helps transport about 50% of the total power generated in India.

Initially known as National Power Transmission Corporation, the company changed its name to Power Grid Corporation of India Limited in 1992. It began its operations by taking over assets from several power companies and started commercial operations in 1993. Over the years, it expanded its role to include managing Regional Load Despatch Centers and eventually established the National Load Despatch Centre in 2009.

Power Grid has grown significantly and now handles transmission, distribution, and energy trading. It is recognized as a Maharatna company, a status awarded for its excellent performance and significant contributions to the power sector. The company also has a presence in the telecom sector, using its infrastructure to support communication services. With over 25,000 employees, Power Grid is a key player in India's energy landscape.