Power Grid Q3 Results: Net profit drops 4% to ₹3,861.6 crore on weak demand, EBITDA down 7% YoY; dividend declared

Power Grid Q3 Results: Power Grid Corporation of India announced its October-December quarter results for fiscal 2024-25 (Q3FY25) on Monday, February 3, 2025, and reported a drop of 4.1 per cent to ₹3,861.6 crore, compared to ₹4,028.3 crore in the corresponding period last year.

The Maharatna Central Public Sector Undertaking (CPSU)'s revenue from operations in the third quarter of the current fiscal dropped three per cent to ₹11,233 crore, compared to ₹11,579.8 crore in the year-ago period. Power Grid shares today ended 2.09 per cent lower at ₹283.90 apiece on BSE.

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Power Grid Q3 Results: Key Metrics

The PSU's total income in Q3FY25 reduced to ₹11,743.06 crore from ₹11,819.70 crore in the October-December quarter of the preceding fiscal. It has reduced expenses to ₹6,828.65 crore in the quarter against ₹7,076.49 crore a year ago. 

Power Grid's board also approved a second interim dividend of ₹3.25 per equity share of ₹10 each (at the rate of 32.50 per cent of the paid-up equity share capital) for 2024-25. The dividend will be paid to the members on February 28, 2025.

“…Payment of second interim dividend of Rs. 3.25 per equity share of Rs. 10 each (@32.50 per cent of the paid-up equity share capital) for the financial year 2024-25. The dividend will be paid on Friday, February 28, 2025. The record date for the purpose of payment of dividend shall be Friday, February 7, 2025,” said Power Grid in a regulatory filing to the stock exchanges.

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Further, the board also approved investment for "implementation of LILO of both circuits of 400kV Vindhyachal PS (power station )' Sasan D/C (direct current) line at Hindalco Switchyard at an estimated cost of ₹370.02 crore. It will be commissioned within 30 months from December 2026.

Last year, domestic brokerage firm Motilal Oswal initiated coverage on the stock with a ‘buy’ rating and set a target price of ₹425. The brokerage highlighted India’s ambitious goal to expand its renewable energy capacity to 500 GW by 2030 and the upcoming battery storage. It pumped hydro projects and the nation’s aspirations to participate in global energy initiatives like ‘One World, One Grid’ as key growth drivers for the company.

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