PowerGrid posts net profit of Rs616 crore
Powergrid Corporation of India Ltd (PGCIL), the country’s largest power transmission utility, has posted a 156% jump in net profit for the quarter ended March 2009, following clearance of past transmission charges by the regulator.
The company posted a net profit of Rs616 crore in the quarter, against a net profit of Rs240 crore in the corresponding quarter the previous year. Total income of the company in the quarter has also increased 35% at Rs2,334 crore as compared to Rs1,729 crore posted in the corresponding quarter the previous year.
For the financial year ended March 2009, the transmission utility has posted a 17% jump in net profit at Rs1,690 crore. Total income for the year has also increased 38% at Rs7,028 crore.