BackPower 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
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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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