Power Grid's Profits Surge, Dividend Announced

24 May 2024 CW Team

Power Grid Corporation of India has reported a substantial increase in its profits for the fiscal year 2024, with net profits reaching Rs 15,573 crore. This marks a significant rise from the previous year, reflecting the company's strong operational performance and strategic initiatives. In response to these robust financial results, the company's board has recommended a generous dividend of 11.25 per share for FY24, underscoring its commitment to delivering value to shareholders.

The financial uplift is attributed to enhanced operational efficiencies and an expanded asset base, which have collectively bolstered the company's revenue streams. The total consolidated revenue from operations for the March quarter alone stood at Rs 24,141 crore, up 20% from Rs 20,061 crore reported in the year-ago period. This growth is indicative of Power Grid's solid market position and its ability to adapt to the dynamic energy sector's demands.

Moreover, the announcement of a 450% dividend, translating to Rs 9 per equity share of Rs 2 each, further highlights the company's robust financial health and its strategy to enhance shareholder returns. This decision is subject to shareholder approval, reflecting a transparent and shareholder-friendly corporate policy.

Power Grid's financial achievements are particularly noteworthy given the broader economic challenges and the competitive nature of the global energy market. The company's ability to maintain and increase profitability while navigating these complexities speaks volumes about its management's efficacy and the operational excellence of its team.

In conclusion, Power Grid Corporation of India's impressive FY24 performance and the subsequent dividend announcement are clear indicators of its strong market presence and financial stability. These developments not only enhance investor confidence but also contribute to the broader stability of the energy sector in India, supporting the nation's energy needs and economic growth.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..