Power Grid Q2 net profit rises 14%

 

Power Grid Corporation of India Limited has posted a net profit of Rs. 2,141 crore for the second quarter of FY 2017-18 (Jul-Sep, 2017), an increase of 14% against Rs. 1,872 crore reported during the corresponding quarter ended September 30, 2016.

Total Income (Turnover) for second quarter (Jul-Sep, 2017) rose to Rs. 7,492 crore, up by 16% from Rs. 6,480 crore in the corresponding year ago period.

Income for first half of financial year FY18 rose to Rs. 14,882 crore, an increase of 17% over Rs. 12,739 crore reported last year.

On a standalone basis, POWERGRID had registered a net profit of Rs. 7,520 crore on a turnover of Rs. 26,581 crore in the FY 2016-17.

During the second quarter of the current financial year i.e. 2017-18, POWERGRID has added about 2,260 ckm of transmission lines; four substations and aggregate transformation capacity of ~ 17,500 MVA.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com
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