Power Grid net profit up 14 per cent

Power Grid net profit up 14 per cent
04/11/2017 , by , in ALLIED

Power Grid Corporation of India Limited reported a 14.37 per cent rise net profit during the second quarter of financial year 2017-2018 compared to the corresponding quarter of the last financial year.

A company statement said that net profit for the quarter under consideration stood at ₹2,141.04 crore for the country’s Central Transmission Utility. Comparably, PGCIL reported a net profit of ₹1,872 crore in the same quarter of the last financial year.

Revenue from transmission business rose to ₹7,063.42 crore during the second quarter of the current financial year. This is 13.63 per cent higher than the ₹6,100.65 crore revenue this business earned in the same quarter of the financial year 2016-2017. Total income for the quarter stood at ₹7,492.52 crore, 15.62 per cent higher than the ₹6,480.20 crore topline reported for the corresponding quarter of the last fiscal.

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