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Power Grid Corp Q4 profit up 6 Percent at INR 1,175.84 Cr

Central transmission utility Power Grid Corporation reported nearly 6 percent jump in net profit at INR 1,175.84 crore for the quarter ended March 31, aided by increase in income from transmission and consultancy services businesses. The company had posted a net profit of INR 1,109.44 crore during the same quarter previous year, Power Grid Corporation of India Ltd (PGCIL) said in a regulatory filing.

The company's income from the transmission vertical rose to INR 3,699.61 crore from INR 3,191.34 crore in the same period last year (2012-13). Income from its consultancy services increased to INR 147.34 crore from INR 35.28 crore in the year-ago period.

PGCIL's total income from operations during the quarter was INR 3,986.28 crore as compared to INR 3,380.66 crore in the corresponding period last fiscal. PGCIL posted a net profit after taxes of INR 4,547.58 crore for the year ended 31.03.2014 as compared to INR 4,312.61 crore for the year ended 31.03.2013. Total income has increased from INR 13,727.12 crore for the year ended March 31, 2013 to INR 16,146.12 crore for the year ended 31.03.2014. Board of directors of the company announced a dividend of INR 1.31 per share in addition to interim dividend of INR 1.27 per share paid in March, 2014.

Source-On Request