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Home / Companies / Company Results /  Power Grid records 37% drop in Q1 PAT to 3,801 cr, revenue jumps 7%
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State-owned Power Grid registers a 36.63% decline in consolidated net profit to 3,801.19 crore for the quarter ending June 30, 2022 (Q1FY23) period compared to a profit of 5,998.28 crore in the same quarter last year. Q1 PAT dropped by 8.55% from 4,156.44 crore in the preceding quarter. The top-line front grew at a slower pace and recorded single-digit growth in Q1FY23. In percentage terms, the telecom and consultancy business saw strong performance.

Consolidated revenue from operations was at 10,905.21 crore in Q1FY23 compared to 10,218.58 crore - registering a growth of 6.71%. Revenue was up 2.04% from 10,686.77 crore in Q4FY22.

Total income stood at 11,168.54 crore in Q1FY23 rising by 7.48% from 10,391.61 crore in Q1 of last year.

On segment-wise performance, the company's transmission business revenue stood at 10,702.98 crore in Q1FY23 rising by 5.90% yoy, while the consultancy and telecom business registered a revenue of 235.39 crore and 190.32 crore in Q1 of this fiscal with a growth of 50.61% and 60.18% year-on-year.

On BSE, Power Grid shares closed at 221.70 apiece down by 0.81%. The company's market valuation is around 1,54,645.79 crore.

The company has fixed August 22 as the record/cut-off date for determining the entitlement of the members for payment of the final dividend on equity shares for fiscal FY22 and for the purpose of the 33rd annual general meeting. The company's shareholders will consider the dividend at the AGM that is scheduled on August 29.

Power Grid plans to pay a final dividend on September 20, 2022.

The state-owned company has announced a final dividend of 2.25 per share (i.e. @ 22.50% on the paid-up equity share capital) for the financial year 2021-22 subject to the approval of the shareholders at the ensuing AGM. This final dividend is in addition to the 1st interim dividend of 7 per share (including a Special Dividend of 3 per equity share) i.e. @ 70% on the paid-up equity share capital paid on 11th January 2022, and the 2nd Interim Dividend of 5.50 per share (i.e. @ 55% on the paid-up equity share capital) paid on 8th March 2022 for the financial year 2021-22.

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