Power Grid Reports 6% Rise In Profit In March Quarter, Stock Edges Lower

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Shares of Power Grid Corporation settled 2.80 per cent decrease at Rs 233 apiece on the BSE.

Share value of Power Grid Corporation of India Limited edged decrease by greater than two per cent on Friday, June 18, after the corporate introduced its January-March quarter outcomes for the monetary 12 months 2020-21. On Friday, Power Grid Corporation opened on the BSE at Rs 247, inching to an intra day excessive of Rs 247, and an intra day low of Rs 230.20, all through the buying and selling session. According to a regulatory submitting by the corporate to the inventory exchanges, Power Grid reported a web revenue of Rs 3,526 crore, on a consolidated foundation within the March quarter of fiscal 2020-21.

The state-owned electrical energy board reported a web revenue of Rs 3,313.47 crore within the corresponding quarter of the earlier fiscal 12 months, marking a development of six per cent for the fourth quarter of fiscal 2021.

The firm’s board of administrators advisable a remaining dividend of Rs. 3.00 per share, which is 30 per cent on the paid-up fairness share capital for the monetary 12 months 2020-21, upon the approval of shareholders. The remaining dividend will be paid inside 30 days from the date of its declaration on the firm’s annual assembly. 

This dividend is along with the primary interim dividend of Rs 5 per share paid on January 8, and the second of Rs 4 per share paid on March 30, this 12 months, for the fiscal 2020-21.

On the NSE, Power Grid Corporation opened at Rs 244, registering an intra day excessive of Rs 245 and an intra day low of Rs 230.10, within the buying and selling session immediately. On the NSE, shares of Power Grid Corporation settled 2.33 per cent decrease at Rs 234.25 apiece.

Shares of Power Grid Corporation settled 2.80 per cent decrease at Rs 233 apiece on the BSE.

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