Power Grid pays Rs 2747 Cr Dividend To Govt

Power Grid pays Rs 2747 Cr Dividend To Govt

Team EnergyInfraPost

Power Grid Corporation of India Ltd. (POWERGRID), the Navratna PSU, has declared final dividend of ₹1464.84 Crore in addition to ₹1281.74 Crore of interim dividend for the Financial Year 2017-18 i.e. aggregating to ₹2746.58 Crore.

A cheque of ₹796.91 Crore 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 ₹704.63 Crore was earlier paid to the Ministry of Power for the year 2017-18.

The total dividend of ₹2746.58 Crore declared by POWERGRID is 52.50% of Paid-up Share Capital as against last year’s total dividend of ₹2275.74 Crore i.e. 43.50% of Paid-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 ₹8238.96 Crore over a total income of ₹30766.32 Crore in the FY 2017-18, a growth of 9.56% in net profit and 15.76% in total income compared to FY 2016-17.

POWERGRID once again has been recognized as the Best Companies to Work for – 2017 in the GREAT PLACE TO WORK study which is one of the largest studies around the globe having coverage of almost 800+ organizations in India. POWERGRID has improved its ranking to 31, as compared to 58 during 2016.

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POWERGRID emerged as the second PSU in this Great Place to Work study. This is a great recognition to Team POWERGRID for consistently producing exceptional values for all of its stakeholders with a notable result centric and employee friendly work culture.

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