PGCIL's Q4 net profit rises 6% to Rs 3,526 crore

New Delhi: State-owned Power Grid Corporation of India Ltd (PGCIL) on Thursday posted over six per cent rise in its consolidated net profit to Rs 3,526.23 crore for the March 2021 quarter, mainly on the back of higher revenues.

The company's consolidated net profit had stood at Rs 3,313.47 crore in the quarter ended on March 31, 2020, according to a BSE filing. Its total income during January-March increased to Rs 10,816.33 crore, from Rs 10,507.65 crore in the year-ago period.

For the full financial year 2020-21, the consolidated net profit stood at Rs 12,036.46 crore, compared with Rs 11,059.40 crore in 2019-20. Total income for the fiscal stood at Rs 40,823.53 crore, up from Rs 38,670.96 crore in 2019-20.

The company's board in its meeting on Thursday recommended a final dividend of Rs 3 per share for the financial year 2020-21, subject to the shareholders' approval at its ensuing annual general meeting (AGM).

The final dividend would be paid within 30 days from the date of its declaration at the AGM. This final dividend is in addition to the first interim dividend of Rs 5 per share paid on January 8 this year,

and second interim dividend of Rs 4 per share paid on March 30 this year, for the financial

year 2020-21.