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 Energy

18 Mar 2026

Headline: Godrej Energy Solutions Eyes 15 Per Cent Growth Subhead: Rs 26 billion project pipeline across power segments Mumbai, 17 March 2026: Godrej Enterprises Group’s Energy Solutions business has built a project pipeline of Rs 26 billion at the clos

Godrej Enterprises Group’s Energy Solutions business has built a project pipeline of Rs 26 billion at the close of FY26, spanning transmission infrastructure, railway electrification and renewable energy projects. The business expects to grow by around 15 per cent by FY27. The growth is driven by rising investments in grid modernisation, electrification and clean energy, aligned with the Government of India’s focus on strengthening power infrastructure. Raghavendra Mirji, Business Head – Energy Solutions, Godrej Enterprises Group, said, “India’s focus on strengthening its power inf..

ULCCS Targets Growth With New Energy And Design Arms

Uralungal Labour Contract Co-operative Society (ULCCS) has launched two new brands—UL Actant and UL N’Shore—as part of its expansion into electrical engineering, renewable energy and interior solutions.The two ventures are projected to generate around Rs 40 billion in revenue and create approximately 3,500 jobs over the next decade. The launch builds on ULCCS’s EPC platform U-Sphere, introduced in 2025 to integrate design, engineering and construction services.UL Actant will focus on electrical engineering and green energy solutions, including control systems, ELV infrastructure, traff..

Ohana Records USD 1.63 Billion Sales In 72 Hours

Ohana Development has recorded sales of USD 1.63 billion within 72 hours for Manchester City Yas Residences by Ohana, a waterfront residential development located along Yas Canal in Abu Dhabi, marking a new sales milestone in the emirate’s real estate market. The project witnessed strong investor participation at launch, with 35 per cent buyers from the UAE and 65 per cent comprising expatriate and international investors. The developer indicated that additional inventory may be released in response to the demand. Husein Salem, CEO, Ohana Development, said, “We would like to express our ..