Overview
Power Grid Corporation of India Limited reported a weaker-than-expected performance for the quarter ended September 30, 2025. The state-run transmission major recorded a decline in profit and operating margins, while its board approved a significant credit facility and an interim dividend.
Q2 FY26 Results Overview
| Metric | Q2 FY26 | Q2 FY25 | YoY Change |
| Consolidated Net Profit | ₹3,566 crore | ₹3,793 crore | -6% |
| Revenue from Operations | ₹11,476 crore | ₹11,277 crore | +1.8% |
| EBITDA | ₹9,114 crore | ₹9,701 crore | -6.1% |
| Operating Margin | 79.4% | 86.0% | ↓ 660 bps |
Power Grid’s revenue rose marginally year-on-year, but profitability metrics weakened due to lower operating efficiency and higher expenses.
Board Approvals
The Board of Directors approved the following:
- Credit Facility: Raising up to ₹6,000 crore through an unsecured rupee term loan or line of credit from the State Bank of India.
- Interim Dividend: ₹4.5 per equity share of face value ₹10 each, representing 45% of paid-up equity share capital for FY26.
Summary
Power Grid’s consolidated net profit declined 6% year-on-year to ₹3,566 crore, while revenue grew 1.8% to ₹11,476 crore in Q2 FY26. EBITDA fell 6.1%, and the operating margin contracted to 79.4%. The Board approved a ₹6,000 crore credit line from SBI and declared an interim dividend of ₹4.5 per share for FY26.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing