Power Grid’s Q1 profit up 33% at Rs1,801.77 crore
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New Delhi: State-run Power Grid Corporation on Tuesday reported a 33% growth in standalone net profit at Rs.1,801.77 crore for the quarter ended 30 June.
The company had clocked a net profit of Rs.1,355.64 crore in the year-ago period, Power Grid said in a BSE filing.
Total standalone income of the public sector undertaking (PSU) also rose by 31% to Rs.6,119.86 crore in April-June quarter this fiscal as against Rs.4,689.88 crore during the same quarter last financial year.
Its total expenses were up at Rs.2,457.49 crore from Rs.1,933.24 crore during the period under review.
Shares of Power Grid on Tuesday traded at a 52-week high at Rs.183.05 apiece on BSE. The stock, however, ended 0.20% down at Rs.177.55 ascrip on the BSE.
The firm’s revenues from transmission business rose to Rs. 5,950.88 crore during the June quarter from Rs.4,579.09 crore in the year-ago period. From consultancy, the company’s revenue was also higher at Rs.121.56 crore in April-June 2016-17 as against Rs.89.98 crore in the same quarter last fiscal.
Income from telecom business was at Rs.122.48 crore in the first quarter compared to Rs.97.68 crore during the corresponding quarter last fiscal.