Powergrid Corporation of India Ltd (PGCIL), India’s largest power transmission utility, has posted a 58.8% jump in net profit for the quarter ended September. The company registered net profit of Rs 1,125.8 crore during the quarter as compared to Rs 708.7 crore during the same period last year, according to an official statement.
Total income of the company also jumped 32% from Rs 2,458.5 crore in the second quarter last fiscal to Rs 3,242.7 crore between July and September this year. Powergrid was helped by higher transmission assets commissioning and partly by a foreign exchange gain of Rs 105 crore.
Last financial year (2011-12), the company had registered a net profit jump of 21% to Rs 3,255 crore. Total income had also increased 19% to Rs 10,785 crore last fiscal.
Powergrid Corp is currently operating 96,000 circuit kilometer of transmission lines across the country, with a power transfer capacity of 1,51,000 Milli Volt Ampere (MVA). The company’s share price at the Bombay Stock Exchange (BSE) today closed at Rs 116.9, up 2.5% as compared to previous close.