Power Grid Q2 results: Net profit up 8.4% to ₹3,866 crore; approved interim dividend of ₹3 per share

Shares of one of the leading Maharatna companies, Power Grid Corporation of India, opened 1% higher on Monday, after the company released its quarterly earnings report on Sunday night. The company posted largely single-digit growth in earnings for the quarter ended September 2026. Besides, the shares also remained buoyant after the company approved an interim dividend at the board meeting.

Power Grid Q2FY27 results

The consolidated revenue from operations for the quarter jumped 2.9% YoY to ₹11,816 crore for the quarter ended September 2026. The company had posted ₹11,475 crore in the corresponding quarter last year and ₹11,946 crore in the previous quarter. The core transmission segment delivered 4.5% growth in Q2 of FY27 at ₹11,206 crore for the quarter ended September 2026.

At the operating level, the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 6.6% YoY to ₹9,719 crore for the quarter as compared to ₹9,113 crore in the same period last year. Similarly, the EBITDA margin expanded by over 280 bps to 82.2% for Q2FY27, as compared to 79.4% in the same period last year.

The margin expansion was largely driven by a 3% decline in total expenses to ₹7,483 crore, as compared to ₹7,733 crore in the same period last year.

Lastly, the net profit for the quarter jumped 8.4% YoY to ₹3,866 crore for the quarter ended September 2026, as compared to ₹3,566 crore in the same period last year. Superior operating profit and margin expansion aided the bottom-line performance for the quarter.

Dividend

Besides approving the quarterly earnings report, the board of directors also approved an interim dividend of ₹3 per share. The press release read: The record date for the purpose of payment of dividend shall be Friday, 06th November, 2026, and the 1st Interim Dividend will be paid to the Members on Monday, 30th November, 2026.

Power Grid share price performance

Share price performance of the power distribution and transmission infrastructure majors has largely remained muted for the year. In 2026, on a YTD basis, the shares remained largely unchanged in positive territory. On a trailing twelve-month basis, the shares are trading 7% lower, underperforming their benchmark.