Power Grid shares settle in green after falling in intra-day trade

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New Delhi, Feb 4 (PTI) Shares of Power Grid Corporation of India ended nearly 1 per cent higher on Tuesday, recovering all the early lost ground.

During the morning trade, the stock had dropped over 4 per cent after the firm reported a 4 per cent decline in consolidated net profit to Rs 3,861.63 crore for the December 2024 quarter.

The stock recovered the lost ground and ended 0.65 per cent higher at Rs 285.75 apiece after dropping 4 per cent to Rs 272.30 in intra-day trade on the BSE.

On the NSE, it ended at Rs 285.25 per share, up 0.51 per cent. During the day, the stock tanked 4.12 per cent to Rs 272.10.

In volume terms, 6.35 lakh shares of the firm were traded on the BSE and 198.36 lakh shares exchanged hands on the NSE during the day.

In the equity market, the 30-share BSE Sensex jumped 1,397.07 points or 1.81 per cent to settle at 78,583.81. The NSE Nifty soared 378.20 points or 1.62 per cent to 23,739.25.

Power Grid Corporation had posted Rs 4,028.25 crore net profit in the year-ago quarter, the company said in an exchange filing on Monday.

The company's total income reduced to Rs 11,743.06 crore against Rs 11,819.70 crore in the October-December quarter of the preceding fiscal.

It has reduced expenses to Rs 6,828.65 crore in the quarter under review compared to Rs 7,076.49 crore a year ago. PTI SUM SUM SHW