Power Grid's Q1 profit jumps 33% at Rs 1,801.77 crore
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
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.
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.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
The shares of the company were trading at Rs 26.70, up 6.16 percent in the afternoon trade on BSE.
In order to fund significant expansion plans and maintain affordability for consumers, companies like Power Grid need to access all available and competitive sources, including multilaterals, international banks and capital markets.
Reliance Infra signs pact with Adani Group to sell its power transmission assets for over Rs 2,000 cr
RInfra owns two electricity transmission lines spanning Maharashtra, Gujarat, Madhya Pradesh and Karnataka and has a 74 percent stake in another in Himachal Pradesh and Punjab