Power Grid Q2 profit rises to Rs 3,866 crore; Rs 3 interim dividend declared

Power Grid Q2 results show consolidated profit rose 8.4% to Rs 3,866.16 crore in the quarter ended 30 September 2026, compared with Rs 3,566.08 crore a year earlier. The state-owned power transmission company said in its filing to the exchanges on 1 November 2026 that consolidated revenue from operations rose 3.0% to Rs 11,816.22 crore. Its board also approved a first interim dividend of Rs 3 per share for FY27, with 6 November 2026 as the record date.

The profit figure is consolidated, which means it includes the company’s subsidiaries. On a standalone basis, which covers the parent company alone, profit for the period rose 7.4%.

Power Grid Q2 results: key numbers

Measure (Rs crore)	Q2 FY27	Q2 FY26	Change
Revenue from operations (consolidated)	11,816.22	11,475.95	+3.0%
Total income (consolidated)	12,055.11	11,670.24	+3.3%
Profit after tax (consolidated)	3,866.16	3,566.08	+8.4%
Revenue from operations (standalone)	10,048.43	9,999.60	+0.5%
Profit for the period (standalone)	3,819.08	3,554.80	+7.4%

For the half year to September, consolidated profit was Rs 7,464.58 crore, up 3.7%, and revenue from operations was Rs 23,312.94 crore, up 2.8%. Against the June quarter, consolidated profit rose 7.4% and revenue rose 2.8%.

Why profit grew faster than revenue

The filing reports the figures but does not give management’s reasons for the gap between profit and revenue growth. Other income, which covers income outside core operations, rose to Rs 238.89 crore from Rs 194.29 crore, and total income grew 3.3%. In our view, the faster rise in other income is the clearest explanation in the statement, but the company’s own commentary is needed to say how much of the gap it explains.

One-time and exceptional items

The results summary does not flag a separate exceptional item. It does show a line for net movement in regulatory deferral account balances, which is reported separately from operating income. Readers comparing profit with last year should check the notes to the accounts before drawing conclusions.

Dividend: Rs 3 per share, record date 6 November 2026

The board approved a first interim dividend of Rs 3 per share on shares of Rs 10 face value, which is 30% of paid-up equity capital. The record date is Friday, 6 November 2026, so shareholders on the register on that date are eligible. The dividend will be paid on Monday, 30 November 2026. By our calculation, Rs 3 on the roughly 930 crore shares implied by the filing’s share capital of Rs 9,300.60 crore comes to about Rs 2,790 crore in total.

What to watch next

• Whether the company’s commentary explains why profit grew faster than revenue.
• Payment of the Rs 3 dividend on 30 November 2026.
• Other dividend and results dates in our results news section.