Power Grid Secures Karnataka RE Project Amidst Q2 Profit Dip

• Power Grid Corporation of India Ltd won a project via TBCB to strengthen renewable energy transmission in Karnataka.
• The project aims to integrate 0.25 GW at Davanagere and 2.75 GW at Bellary, involving a 400 kV double-circuit line and infrastructure augmentation.
• The company reported a 6% YoY drop in Q2FY25 net profit to ₹3,566 crore, missing analyst estimates, despite a 1.8% revenue increase.
• EBITDA declined 6.1% YoY to ₹9,114 crore, and margins narrowed to 79.4%, both below forecasts.
• Power Grid's board approved a first interim dividend of ₹4.50 per equity share for FY26, as shares closed down 1.84%.

Why It Matters: Power Grid secures a key renewable energy project in Karnataka, but faces Q2 profit decline.