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

New Delhi: State-run Power Grid Corporation Tuesday reported a 33 percent growth in standalone net profit at Rs 1,801.77 crore for the quarter ended June 30. [caption id=“attachment_301631” align=“alignleft” width=“380”]  Reuters[/caption] 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 percent 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. 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.