POWERGRID declares total dividend of ₹4357.92Crore

Sarkaritel
By Sarkaritel September 5, 2019 18:34


New Delhi, 05th September, 2019: Power Grid Corporation of India Ltd. (POWERGRID), the Navratna PSU, has declared final dividend of ₹1307.90Crore in addition to ₹3050.02Croreofinterim dividend for the Financial Year 2018-19i.e. aggregating to ₹4357.92 Crore.

AnRTGS advice of ₹ 698.81Crore towards final dividend for the year 2018-19 was handed over by ShriK. Sreekant, CMD, POWERGRID to the Hon’ble Union Minister of State (IC) for Power, New & Renewable Energy, Shri R.K. Singh on 05.09.2018 in the presence of Shri Subhash Chandra Garg, Secretary (Power), Government of India, senior officials of Ministry of Power and POWERGRID Board Members. In addition to this, an interim dividend of ₹1629.62Crore was earlier paid to the Ministry of Power for the year 2018-19.

The total dividend of ₹4357.92 Crore declared by POWERGRID is 83.30% of Paid-up Share Capitalas against last year’s total dividend of ₹2746.59Crorei.e.52.50% ofPaid-up Share Capital. The dividend amount of ₹4357.92 Crore is approximately 43.85% of the profit after tax of ₹9938.55Crore. POWERGRID has been consistently paying dividend since Financial Year 1993-94.

POWERGRID registered a net profit of ₹9938.55 Crore over a total income of
₹35618.07Crore in the FY 2018-19, a growth of 20.55% in net profit and 15.77% in total income compared to FY 2017-18 on standalone basis.

Sarkaritel
By Sarkaritel September 5, 2019 18:34