POWERGRID declares total dividend of ₹2746.58 Crore

Sarkaritel
By Sarkaritel September 27, 2018 20:10


New Delhi, 27th September, 2018 : Power Grid Corporation of India Ltd. (POWERGRID), the Navratna PSU, has declared final dividend of ₹1464.84 Crore in addition to ₹1281.74 Crore ofinterim dividend for the Financial Year 2017-18i.e. aggregating to ₹2746.58 Crore.

A cheque of ₹796.91Crore towards final dividend for the year 2017-18 was handed over by Shri I.S.Jha, CMD, POWERGRID to the Hon’ble Union Minister of State (IC) for Power and  New & Renewable Energy, Shri R.K.Singh on 27.09.2018 in the presence of Shri Ajay Kumar Bhalla, Secretary (Power),  Government of India , senior officials of Ministry of Power and POWERGRID Board Members. In addition to this, an interim dividend of ₹704.63Crore was earlier paid to the Ministry of Power for the year 2017-18.

The total dividend of ₹2746.58Crore declared by POWERGRID is 52.50% of Paid-up Share Capitalas against last year’s total dividend of ₹2275.74Crore i.e.43.50% ofPaid-up Share Capital. The dividend amount of 2746.58 Crore is approximately 33.34 % of the profit after tax of ₹8238.96 Crore. POWERGRID has been consistently paying dividend since Financial Year 1993-94.

POWERGRID registered a net profit of ₹8238.96Crore over a total income of ₹30766.32Crore in the FY 2017-18, a growth of 9.56%in net profit and 15.76% in total income compared to FY 2016-17.

Sarkaritel
By Sarkaritel September 27, 2018 20:10