Power Grid gains after declaring Q4 result

Power Grid Corporation of India advanced 3.76% to Rs 177.80 after the company reported an 8.2% rise in consolidated net profit to Rs 3313.47 crore on a 6.4% rise in net sales to Rs 10,148.26 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax and regulatory deferral account balances stood at Rs 3357.14 crore in Q4 March 2020, rising 2.7% from Rs 3266.89 crore posted in Q4 March 2019. Power Grid paid total tax expenses of Rs 1019.68 crore in Q4 March 2020 as compared to a tax rebate of Rs 5,219.90 crore received in Q4 March 2019.

On a consolidated basis, Power Grid's consolidated net profit rose 10.2% to Rs 11,059.40 crore in fiscal year ended 31 March 2020 (FY20) as against Rs 10,033.52 crore posted in FY19. Net sales rose 7.66% to Rs 37,743.54 crore.

Meanwhile, the company has announced a final dividend of Rs 4.04 per share for FY20.

Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India.

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