Power Grid's Q1 profit up 33% at Rs 1,801.77 crore

Power Grid Corporation Of India Limited (PGCIL) logo
State-run Power Grid Corporation today reported a 33 per cent growth in standalone net profit at Rs 1,801.77 crore for the quarter ended June 30.

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 per cent 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 Monday traded at a 52-week high at Rs 183.05 apiece on BSE.

The stock however ended 0.20 per cent down at Rs 177.55 ascrip on the bourse (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 financial year.

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 financial year

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