Power Grid Corp Q4 profit up 6% at Rs1,175.84 crore

New Delhi: Central transmission utility Power Grid Corporation reported nearly 6% jump in net profit at Rs1,175.84 crore for the quarter ended 31 March, aided by increase in income from transmission and consultancy services businesses.

The company had posted a net profit of Rs1,109.44 crore during the same quarter previous year, Power Grid Corporation of India Ltd (PGCIL) said in a regulatory filing. The company’s income from the transmission rose to Rs3,699.61 crore against Rs3,191.34 crore in the same period last year (2012-13).

Income from its consultancy services increased to Rs147.34 crore from Rs35.28 crore in the year-ago period.

PGCIL’s total income from operations during the quarter was Rs3,986.28 crore as compared to Rs3,380.66 crore in the corresponding period last fiscal.

PGCIL posted a net profit after taxes of Rs4,547.58 crore for the year ended 31 March, 2014 as compared to Rs4,312.61 crore for the year ended 31 March, 2013. Total income has increased from Rs13,727.12 crore for the year ended 31 March 2013 to Rs16,146.12 crore for the year ended 31 March 2014.

Board of directors of the company announced a dividend of Rs1.31 per share in addition to interim dividend of Rs1.27 per share paid in March, 2014.

Shares of the company closed at Rs124.90, 0.04% in the BSE.