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Power Grid Corporation of India missed third-quarter profit estimates on Monday, largely because of sluggish power demand.
The state-run energy transmission company's consolidated net profit fell 4% to 38.62 billion rupees ($443.5 million) in the three months to Dec. 31.
Revenue from operations fell 3% to 112.33 billion rupees, falling short of analysts' expectations.
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 "power, electricity, power grid")
 "Power grid")
 "The Ministry of Power has amended a key regulation, enabling power plants that supply electricity to neighbouring countries to sell their output back in India if they encounter difficulties in the foreign markets. This move comes in the wake of ongoi")
A slowdown in India's economy had dragged on the rise in power demand.
Power generation in the second half of 2024 grew to about a quarter of the total growth seen in the first half of the year.
India's power generation grew by only 3% from October to December, compared to a 12% rise a year earlier.
Overall, the power generation growth in 2024 was the slowest since the COVID-19 pandemic.
The average market clearing price on the Indian Energy Exchange last quarter specify fell 26% year-on-year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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