Power Grid Corporation of India Q4 Profit Rises 10% to ₹4,546 Crore Despite Revenue Decline
- By Kotak News Desk
- 18 May 2026 at 4:06 PM IST
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Power Grid Corporation of India shares declined after weak Q4 results, as revenue and EBITDA fell while margins narrowed to 78%. Net profit rose 10% due to deferred tax adjustments despite higher expenses.
The company reported a 9.7% year-on-year rise in net profit to ₹4,546.3 crore, compared with ₹4,143 crore in the corresponding quarter last year. Profit after tax was supported by the remeasurement of deferred tax balances.
Revenue from operations declined 5% to ₹11,666 crore in the March quarter, down from ₹12,275 crore a year ago. Other expenses rose sharply to ₹1,899 crore versus ₹1,283 crore in the year-ago period.
Power Grid Corporation of India shares fell on Monday, 18 May 2026, closing at ₹296.90, down 2.93% on the National Stock Exchange.
Key Financial Highlights
Transmission Charges | 10,820 | 11,650 | -7 |
Consultancy Services | 582 | 372 | 56 |
Telecom | 264 | 254 | 4 |
Other Income | 305 | 315 | -3 |
Total Income | 11,971 | 12,591 | -5 |
Operating Expenses | 2,157 | 2,177 | -1 |
Share of Net Profit/(Loss) from JVs | 17 | -30 | - |
EBITDA | 9,831 | 10,384 | -5 |
Depreciation | 3,295 | 3,196 | 3 |
Interest | 1,957 | 2,033 | -4 |
Tax (Net of Deferred Adjustment for Deferred Tax Liability) | 33 | 1,012 | - |
Profit After Tax | 4,546 | 4,143 | 10 |
Additional Financial Highlights
Gross Fixed Assets (₹ crore) | 3,20,334 | 2,90,715 |
Capital Work-in-Progress (₹ crore) | 47,980 | 36,341 |
Debt (₹ crore) | 1,48,009 | 1,30,965 |
Net Worth (₹ crore) | 1,00,494 | 92,663 |
Earnings Per Share (₹) | 17 | 17 |
Book Value per Share (₹) | 108 | 100 |
Debt : Equity | 60:40 | 59:41 |
Return on Net Worth (%) | 16 | 17 |
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Dividend Highlights
The board of directors recommended a final dividend of ₹1.25 per equity share of face value ₹10 each for FY26, subject to shareholder approval at the upcoming annual general meeting. The final dividend is in addition to the first interim dividend of ₹4.50 per share and second interim dividend of ₹3.25 per share already paid during the financial year. This takes the total FY26 dividend payout to ₹9 per share.
Power Grid stated that the final dividend, if approved by shareholders, would be paid within 30 days from the date of declaration at the AGM.
Alongside the earnings announcement, the company’s board also approved a proposal to raise up to ₹5,000 crore through rupee term loans and other banking facilities to strengthen its capital structure and support future expansion plans.
Source:
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