State-run Power Grid Corp today posted nearly 9% rise in profit to Rs 708.74 crore for the three months ended September 30, 2011.
The leading power transmission utility had a profit of Rs 651.40 crore in the year-ago period.
In the September quarter, Power Grid's revenues climbed to Rs 2,264.35 crore from Rs 2,126.63 crore in the same period last year, the company said in a regulatory filing.
Out of the total quarterly revenues, transmission segment accounted for the maximum amount of Rs 2,041.61 crore.
The filing said that the profit decreased by Rs 68.34 crore in the latest September quarter due to accounting of Foreign Exchange Rate Variation (FERV).
FERV was taken into consideration as per accounting policies adopted by the company in accordance with the opinion of Expert Advisory Committee of Institute of Chartered Accountants.
Transmission income of Rs 572.17 crore for the quarter and Rs 1,412.40 crore for the half-year ended September 30, 2011, has been provisionally recognised based on Central Electricity Regulatory Commission tariff norms for the block period 2009-14, as per the company's accounting policy, the filing said.