Power Grid Corporation of India announced that Divya Tandon retired fromthe post of Executive Director - Company Secretary and Compliance Officer(KMP) of POWERGRID on 30 June, 2020.

The Board of Director in its meeting held on 20 June,2020, accordedapproval to the appointment of Mrinal Shrivsatava as Company Secretaryand Compliance Officer with effect from 1 July, 2020.

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Power Grid Corporation of India announced that the Board of Directors of the Company at its meeting held on 20 June 2020, has recommended a Final dividend of Rs.4.04 per share (i.e.40.4%), subject to the approval of the shareholders.

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Consolidated profit before tax and regulatory deferral account balances stood at Rs 3357.14 crore in Q4 March 2020, rising 2.7% from Rs 3266.89 crore posted in Q4 March 2019. Power Grid paid total tax expenses of Rs 1019.68 crore in Q4 March 2020 as compared to a tax rebate of Rs 5,219.90 crore received in Q4 March 2019.

On a consolidated basis, Power Grid's consolidated net profit rose 10.2% to Rs 11,059.40 crore in fiscal year ended 31 March 2020 (FY20) as against Rs 10,033.52 crore posted in FY19. Net sales rose 7.66% to Rs 37,743.54 crore.

Meanwhile, the company has announced a final dividend of Rs 4.04 per share for FY20.

Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India.

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Net profit of Power Grid Corporation of India rose 8.23% to Rs 3313.47 crore in the quarter ended March 2020 as against Rs 3061.43 crore during the previous quarter ended March 2019. Sales rose 6.43% to Rs 10148.26 crore in the quarter ended March 2020 as against Rs 9535.12 crore during the previous quarter ended March 2019.

For the full year,net profit rose 10.22% to Rs 11059.40 crore in the year ended March 2020 as against Rs 10033.52 crore during the previous year ended March 2019. Sales rose 7.66% to Rs 37743.54 crore in the year ended March 2020 as against Rs 35059.12 crore during the previous year ended March 2019.

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