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Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

Power Grid Q3 profit rises 31% to Rs1,613 crore

Total income rose from Rs4,486 crore for the quarter ended 31 December 2014 to Rs5,504 crore in the third quarter of fiscal 2016

New Delhi: Power Grid Corp. of India Ltd on Wednesday reported 31% jump in its standalone net profit at 1,613.12 crore for the quarter ended 31 December on account of rise in revenue from its transmission business.

“The company has posted a net profit of 1,613.12 crore for the quarter ended 31 December 2015 as compared to 1,228.91 crore for the quarter ended 31 December 2014," Power Grid said in a BSE Ltd filing.

The total income of the company increased from 4,486.11 crore for the quarter ended 31 December 2014 to 5,504.83 crore for the quarter ended 31 December 2015.

The revenue from transmission segment increased to 5,244.45 crore in the third quarter of the current fiscal as compared to 4,240.05 crore in the same period a year ago.

During the April-December period this fiscal, the company’s net profit stood at 4,427.67 crore as compared to 3,566.69 crore in the nine-month period a year ago. The company also said its board of directors at a meeting held on Wednesday approved interim dividend of 0.80 per share of 10 each, which will be paid on 16 February. PTI

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