PowerGrid Q4 jumps 37% on higher income

New Delhi: PowerGrid Corporation of India today reported a 37.35 percent increase in net profit to Rs 1,031.69 crore for the quarter ended 31 March 31, 2012 on higher income from operations.

The company’s net profit for the period under consideration last fiscal stood at Rs 751.12 crore, the company said in a regulatory filing.

[caption id=“attachment_325183” align=“alignleft” width=“380” caption=“Churning money on transmission.”] [/caption]

For the year ended March 31, 2012, the company’s standalone net profit stood at Rs 3,254.95 crore, higher by 20.69 percent from the the year ago period when it stood at Rs 2,696.89 crore.

On a consolidated basis, the net profit stood at Rs 4,689.66 crore for the year ended 31 March 2012, as against Rs 3,829.29 crore in the year-ago period.

During the year, the company has paid an interim dividend of Rs 0.80 per share for the year 2011-12. The board has declared a final dividend of Rs 1.31 per share.

The total dividend for the financial year 2011-12 is Rs 2.11 per share.

PowerGrid said that inclusion of Foreign Exchange Rate Variation (FERV) as per accounting policies has resulted in the latest annual profit falling by Rs 84.43 crore.

In the previous year, the increase in profit due to the same factor was Rs 4.48 crore.

This amount being the difference of Rs 78 crore included in other incomes and Rs 73.52 crore included in interest and other expenses, it added.

PTI