Power Grid Corporation of India532898Quarterly results
Board approves Q2 results and Rs. 3.00 first interim dividend; record date 06 November 2026
Board approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 11,816.22 | 11,475.95 | +3% | 11,496.72 | +2.8% |
| Total income | 12,055.11 | 11,670.24 | +3.3% | 11,696.72 | +3.1% |
| Profit before tax | 4,568.44 | 3,878.17 | +17.8% | 4,587.32 | −0.4% |
| Profit after tax | 3,866.16 | 3,566.08 | +8.4% | 3,598.42 | +7.4% |
| Total comprehensive income | 3,897.32 | 3,612.26 | +7.9% | 3,527.21 | +10.5% |
| Basic EPS | 4.16 | 3.84 | +8.3% | 3.87 | +7.5% |
- Profit after tax YoY growth
- +8.4%
- Period
- Quarter ended 30.09.2026 (Unaudited)
Also decided at the meeting
- Declared 1st Interim Dividend of Rs. 3.00/- per equity share of Rs. 10/- each (@30%) for FY 2026-27; record date Friday, 06th November, 2026; payment on Monday, 30th November, 2026.
- Board accorded approval for divestment of entire equity stake in CTUIL (wholly owned subsidiary) to Grid Controller of India Limited (GRID-INDIA).
Notes to the results
- Schemes of merger of wholly owned subsidiaries into Powergrid Ghiror Transmission Ltd and Powergrid South Olpad Transmission Ltd shared with Regional Director on 3 Sept 2026; confirmation awaited.
- Investments in JVs Torrent Power Grid, Sikkim Power Transmission and Parbati Koldam Transmission classified as held for sale; DIPAM approval for exit received during the quarter.
- Investment in CTUIL classified as 'Assets classified as held for sale' under Ind AS 105.
- Net movement in Regulatory Deferral Account Balances (net of tax) mainly comprises foreign exchange differences and deferred assets against deferred tax liability.
What the board approved
- The unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026.
- A first interim dividend of Rs. 3.00 per equity share of Rs. 10 each, which works out to 30% of the paid-up equity share capital, for the financial year 2026-27.
- Record date for the dividend is Friday, 06 November 2026, and payment to members is on Monday, 30 November 2026.
The quarter in numbers (standalone)
All figures below are from the standalone statement of unaudited financial results, in Rs. crore, with the year-ago quarter in brackets for comparison.
- 'Revenue from Operations': Rs. 10,048.43 crore (Rs. 9,999.60 crore).
- 'Total Income': Rs. 11,899.96 crore (Rs. 11,348.27 crore).
- 'Profit Before Tax and Regulatory Deferral Account Balances': Rs. 4,569.26 crore (Rs. 3,744.13 crore).
- 'Profit for the period': Rs. 3,819.08 crore (Rs. 3,554.80 crore).
- 'Earnings per equity share (Face value of Rs. 10/- each) - Basic & Diluted': Rs. 4.10 (Rs. 3.82).
- For the half year, 'Revenue from Operations' was Rs. 19,843.83 crore and 'Profit for the period' Rs. 7,230.03 crore, against Rs. 19,927.83 crore and Rs. 7,208.03 crore in the previous half year.
Dividend context
- The dividend is on a face value of Rs. 10 per share.
- Under the notes, the company states that at its 37th Annual General Meeting held on 20 August 2026 it approved and subsequently paid a final dividend of Rs. 1.25 per share in addition to an interim dividend of Rs. 7.75 per share paid earlier, totalling Rs. 9 per share for the financial year 2025-26.
- The Rs. 3.00 per share interim dividend declared at this board meeting is for the financial year 2026-27.
Transmission income and tariff
- The notes state that CERC has notified the "CERC (Terms and Conditions of Tariff) Regulations, 2024" for determination of transmission tariff for the block period 2024-29.
- Transmission income recognised for the quarter includes Rs. 9,106.68 crore as per tariff orders issued by CERC, and Rs. 544.31 crore provisionally as per CERC Tariff Regulations for transmission assets for which tariff orders are yet to be issued.
- Consequent to the final order issued by CERC, transmission income includes Rs. 5.43 crore (increase) for the quarter and Rs. 16.12 crore (decrease) for the half year pertaining to earlier years.
Subsidiary mergers
- The board had on 19 March 2026 approved schemes of arrangement for merger/amalgamation of a set of wholly owned subsidiaries into two wholly owned subsidiary transferee companies.
- No objection for the schemes has been obtained from the Ministry of Power and CTUIL. Applications for approval of the merger scheme were shared with the Regional Director under section 233 of the Companies Act, 2013 on 3 September 2026, and confirmation of the Regional Director is awaited.
Stakes held for sale
- In-principle approval had been accorded for sale of the entire stake in joint ventures Torrent Power Grid Limited (ceased to be a JV with effect from 30 May 2025), Sikkim Power Transmission Limited (19 May 2025) and Parbati Koldam Transmission Company Limited (30 July 2025); these investments are classified as "Asset classified as held for sale". During the current quarter the company received approval from DIPAM through the Ministry of Power for sale of stake/exit in these JVs.
- In-principle approval for divestment of the entire equity stake in Central Transmission Utility of India Limited (CTUIL), a wholly owned subsidiary of the parent company to Grid Controller of India Limited, was accorded on 09 March 2026, and the board at its meeting on 01 November 2026 accorded its approval for the divestment of the entire equity stake in CTUIL.
Review and audit trail
- The standalone financial results have been reviewed by the Audit Committee and thereafter considered and approved by the Board at its meeting on 01 November 2026.
- The statutory auditors have conducted a limited review of the standalone financial results for the quarter and half year ended 30 September 2026.
- The board meeting commenced at 5:40 P.M. (IST) and concluded at 6:10 P.M. (IST).
11,496.72 (₹ in Crore)Revenue from operations, quarter
Profit before tax, year-ago quarter3,878.17 (₹ in Crore)
Profit after tax, latest quarter3,866.16 (₹ in Crore)
Profit for the period, quarter ended 30.09. (standalone₹3,819.08 Cr
Also from Power Grid Corporation of India
Board approves sale of entire CTUIL equity holding to GRID-INDIA; initial payment ₹73.46 crore
1 Nov 2026
Board approves 1st interim dividend of Rs. 3.00 per equity share
1 Nov 2026
Ministry of Power conveys appointment of Pankaj Pandey as Director (Operations)
30 Oct 2026
More numbers
- First interim dividend per equity share, FY 2026-27Rs. 3.00/-
- Interim dividend as % of paid-up equity share capital@30%
- Revenue from Operations, quarter ended 30.09.2026 (standalone)10,048.43
- Total Income, quarter ended 30.09.2026 (standalone)11,899.96
- Profit for the period, quarter ended 30.09.2026 (standalone)3,819.08
- Profit for the period, half year ended 30.09.2026 (standalone)7,230.03
- Earnings per equity share, Basic & Diluted, quarter (standalone)4.10
- Total dividend per share for FY 2025-26 (final + interim)₹ 9 per share
- Total income, latest quarter12,055.11 (₹ in Crore)
- Total income, year-ago quarter11,670.24 (₹ in Crore)
- Total income, previous quarter11,696.72 (₹ in Crore)
- Total comprehensive income, latest quarter3,897.32 (₹ in Crore)
- Total comprehensive income, year-ago quarter3,612.26 (₹ in Crore)
- Total comprehensive income, previous quarter3,527.21 (₹ in Crore)
- Profit after tax, latest quarter3,866.16 (₹ in Crore)
- Profit after tax, year-ago quarter3,566.08 (₹ in Crore)
- Profit after tax, previous quarter3,598.42 (₹ in Crore)
- Revenue from operations, latest quarter11,816.22 (₹ in Crore)
- Revenue from operations, year-ago quarter11,475.95 (₹ in Crore)
- Revenue from operations, previous quarter11,496.72 (₹ in Crore)
- Profit before tax, latest quarter4,568.44 (₹ in Crore)
- Profit before tax, year-ago quarter3,878.17 (₹ in Crore)
- Profit before tax, previous quarter4,587.32 (₹ in Crore)
Source: BSE · 1 Nov 2026
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