Power Grid Corporation reports growth in Q3 FY24 amidst strong market conditions

Power Grid Corporation Of India Ltd., a key player in the power sector, has released its financial results for the quarter ended December 31, 2023. The company showcased steady growth, reaffirming its position as a leader in the industry.

Financial Highlights:

Sales: Power Grid Corporation reported sales of ₹11,550 crores for Q3 FY24, slightly higher compared to the previous quarter's ₹11,267 crores and significantly higher than Q3 FY23's ₹11,262 crores.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization stood at ₹10,213 crores, showing consistent performance compared to Q2 FY24 and a notable improvement from Q3 FY23.

PAT: Profit After Tax saw a moderate increase, reaching ₹3,956 crores, reflecting the company's stable financial health.

Power Grid Corporation Of India Ltd. continues to demonstrate resilience and stability in its financial performance. With consistent growth in sales and improved profitability, the company remains well-positioned for sustained success in the dynamic power sector.

Quarterly Comparison

Quarter	SALES	EBITDA	PAT
Q3 FY24	11,550	10,213	3,956
Q2 FY24	11,267	9,908	3,980
Q3 FY23	11,262	9,893	3,413

9-Month Comparison

Period	SALES	EBITDA	PAT
9M FY24	33,865	29,804	11,883
9M FY23	33,318	28,569	10,852

Shares of Power Grid Corporation of India Limited was last trading in BSE at Rs. 274.35 as compared to the previous close of Rs. 282.75. The total number of shares traded during the day was 700720 in over 8253 trades.

The stock hit an intraday high of Rs. 284.75 and intraday low of 272.30. The net turnover during the day was Rs. 192610471.00.

Source : Equity Bulls

Keywords

PowerGridCorporationofIndia INE752E01010 Q3FY24 9MFY24 ResultUpdate