New Delhi, Feb 4 (PTI) – Shares of Power Grid Corporation of India tumbled over 4% on Tuesday following the company's announcement of a 4% decline in consolidated net profit for the December 2024 quarter.
The stock fell 4% to ₹272.30 on the BSE, while on the NSE, it slipped 4.12% to ₹272.10. The decline came after Power Grid reported a net profit of ₹3,861.63 crore, down from ₹4,028.25 crore in the same quarter the previous year, as per the company's exchange filing on Monday.
The total income for the quarter dipped to ₹11,743.06 crore, compared to ₹11,819.70 crore in the corresponding period of the last fiscal year. However, the company's expenses were reduced to ₹6,828.65 crore, from ₹7,076.49 crore a year ago.
The stock's fall reflects investor concerns over the profit decline, despite cost-cutting efforts.
