Powergrid Q3 profit rises 37 per cent to Rs809 crore

Navratna public sector undertaking Power Grid Corporation of India Limited has reported a 37 per cent increase in its fiscal third quarter (October-December 2011-12) net profit, at Rs809 crore against a profit of Rs591 crore during the similar period in the previous fiscal.

Powergrid, a central transmission utility, reported total income of Rs2,576 crore for October-December 2011, up 20 per cent from Rs2,145 crore in the year-ago period.

For the first nine months of FY 2011-12, Powergrid said its net profit stood at Rs2,223 crore and total income at Rs7,376 crore, respectively.

The company also declared interim dividend of 8 per cent for the financial year 2011-12 against 5 per cent interim dividend paid in the last financial year.

Powergrid is currently operating over 90,000 circuit km of transmission lines along with 145 sub-stations with transformation capacity of more than 1,02,000 MVA.

The company has already commissioned assets worth Rs6,285 crore up to December 2011.