New Delhi (Anish Yande): Shares of Power Grid rose by 3 per cent on Friday's trading session following the recommendation of a bonus issue in the ratio of 1:3. Power Grid opened at Rs 244 per share rising to an intraday high of Rs 245 per share from its previous close of Rs 239 per share.
Power Grid's board recommends a bonus issue:
Power Grid's board has recommended a bonus issue in the ratio of 1:3. The bonus issue consists of one new equity bonus share of Rs 10 each for all three existing equity share of Rs 10 each fully paid-up share. The bonus issue is subject to the shareholders' approval.
The company has recommended a final dividend of Rs 3 per share for the financial year ended March 2021. Power Grid's first interim dividend of Rs 5 per share was paid in January this year and the second interim dividend of Rs 4 per share was paid on March 2021.
Power Grid's total dividend, consisting of interim dividend, was at Rs 12 per share at a face value at Rs 10 each in the financial year 2020-21. The final dividend is subject to the shareholders' approval at its ensuing annual general meeting.
Power Grid Q4 Earnings:
Power Grid posted a consolidated net profit of Rs 3,313.47 crore in the January to March quarter of FY20. The electricity generation company's net profit grew to Rs 3,526.23 crore in the March quarter of FY21. The consolidated net profit increased by 6.4 per cent on a year-on-year basis.
For the entire fiscal year 2020-21, Power Grid reported a consolidated net profit of Rs 12,036.46 crore as compared to a net profit of Rs 11,059.40 crore in the corresponding quarter of the previous year.
The total income of the Power Grid was recorded at Rs 10,816.33 crore in the March quarter of 2021 from Rs 10,507.65 crore in the corresponding period of the previous year. In the fiscal year 2021, total income rose to Rs 40,823.53 crore from the total income recorded at Rs 38,670.96 crore in 2019-20.
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