Power Grid Corporation of India Ltd on Thursday posted a sequential rise of 4.7 per cent in consolidated net profit for the March quarter at ₹3,526 crore. Total income during the quarter also grew 4.4 per cent sequentially to ₹10,816.33 crore.
On a year-on-year basis, the March quarter profit grew by 6.4 per cent while income rose 2.9 per cent.
For the entire financial year 2020-21, profit grew 8.8 per cent to ₹12,036.5 crore, while total income increased 5.6 per cent to ₹40,823.5 crore.
The company board on Thursday also recommended a final dividend of ₹5 per share for 2020-21. Along with interim dividends paid out in January and March, the total dividend for the concluded fiscal year comes to ₹12 per share.
The biggest gainer is the Central government, which controls 51 per cent stake in the company and will be paid a total ₹3,223 crore in dividends for the year.
Bonus shares
The board also recommended the issue of bonus shares to the ratio of 3:1. The company will allot one bonus share of ₹10 for every three existing shares, subject to approval of the shareholders.