Shares of Power Grid Corporation of India Ltd . were down nearly 3% on Tuesday, November 4, after the company after the company reported its second quarter earnings on Monday .

The state-run company's board also approved the first interim dividend along with the raising of funds via a line of credit.

Power Grid's September quarter results were largely below Street estimates.

It reported a 6% decline in its net profit in the September quarter to ₹3,566 crore from ₹3,793 crore last year. The number was below the CNBC-TV18 poll estimate of ₹3,780 crore.

Revenue for the quarter increased by 1.8% from last year to ₹11,476 crore from ₹11,277 crore, and was marginally above estimates of ₹11,431 crore.

Power Grid's earnings before interest, tax, depreciation and amortisation (EBITDA) de

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