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Business News/ Companies / Power Grid’s Q1 profit up 33% at Rs1,801.77 crore
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Power Grid’s Q1 profit up 33% at Rs1,801.77 crore

Total standalone income of Power Grid rose by 31% to Rs6,119.86 crore in April-June this fiscal as against Rs4,689.88 crore last year

Shares of Power Grid on Tuesday ended 0.20% down at Rs177.55 ascrip on the BSE. Premium
Shares of Power Grid on Tuesday ended 0.20% down at Rs177.55 ascrip on the BSE.

New Delhi: State-run Power Grid Corporation on Tuesday reported a 33% growth in standalone net profit at 1,801.77 crore for the quarter ended 30 June.

The company had clocked a net profit of 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 6,119.86 crore in April-June quarter this fiscal as against 4,689.88 crore during the same quarter last financial year.

Its total expenses were up at 2,457.49 crore from 1,933.24 crore during the period under review.

Shares of Power Grid on Tuesday traded at a 52-week high at 183.05 apiece on BSE. The stock, however, ended 0.20% down at 177.55 ascrip on the BSE.

The firm’s revenues from transmission business rose to 5,950.88 crore during the June quarter from 4,579.09 crore in the year-ago period. From consultancy, the company’s revenue was also higher at 121.56 crore in April-June 2016-17 as against 89.98 crore in the same quarter last fiscal.

Income from telecom business was at 122.48 crore in the first quarter compared to 97.68 crore during the corresponding quarter last fiscal.

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Published: 16 Aug 2016, 09:17 PM IST
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