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    Power Grid gains despite reporting 37% fall in Q1 consolidated net profit


    August 10, 2022 - Accord Fintech

     

      India, Aug. 10 -- Power Grid Corporation of India is currently trading at Rs. 223.50, up by 1.80 points or 0.81% from its previous closing of Rs. 221.70 on the BSE.

      The scrip opened at Rs. 220.90 and has touched a high and low of Rs. 224.75 and Rs. 220.75 respectively. So far 559560 shares were traded on the counter.

      The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 248.25 on 10-May-2022 and a 52 week low of Rs. 170.25 on 08-Sep-2021.

      Last one week high and low of the scrip stood at Rs. 226.15 and Rs. 218.75 respectively. The current market cap of the company is Rs. 155308.46 crore.

      The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.42% and 3.24% respectively.

      Power Grid Corporation of India has reported a fall of 38.12% in its net profit at Rs 3,765.86 crore for the quarter ended June 30, 2022 as compared to Rs 6,085.41 crore for the same quarter in the previous year. However, total income of the company increased by 7.11% at Rs 11,016.88 crore for Q1FY23 as compared Rs 10,285.38 crore for the corresponding quarter previous year.

      On the consolidated basis, the company has reported a fall of 36.63% in its net profit at Rs 3,801.19 crore for the quarter ended June 30, 2022 as compared to Rs 5,998.28 crore for the same quarter in the previous year. However, total income of the company increased by 7.48% at Rs 11,168.54 crore for Q1FY23 as compared Rs 10,391.61 crore for the corresponding quarter previous year. Published by HT Digital Content Services with permission from Accord Fintech. For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com

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