PowerGrid profit rises 31%

Power Grid Corp on Wednesday reported 31 per cent jump in its standalone net profit to Rs 1,613.12 crore for the December quarter on account of rise in revenue from transmission business.

"The company has posted a net profit of Rs 1,613.12 crore for the quarter ended December 31, 2015 as compared to Rs 1,228.91 crore for the quarter ended December 31, 2014," Power Grid Corp said in a BSE filing.

The total income of the company increased from Rs 4,486 crore in the year-ago period to Rs 5,504.83 crore for the quarter ended December 31, 2015.

The revenue from transmission segment increased to Rs 5,244 crore, against Rs 4,240 crore in the same period a year ago.

During the April-December period this financial year, its net profit stood at Rs 4,427.67 crore against Rs 3,566.69 crore in the year-ago period.

It also said that the Board of Directors of the company at its meeting held today, have approved interim dividend Rs 0.80 per share of Rs 10 each, which shall be paid on February 16, 2016.