Shri I.S.Jha CMD-Power Grid Corporation of India announces Q1FY17 Results for the Quarter ended June 30, 2016

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MUMBAI 17TH AUGUST, 2016 ( GPN ) : Power Grid Corporation of India Ltd has posted a net profit of Rs.1,802 crore for the quarter ended June 30, 2016 as compared to Rs.1,355.6 crore for the quarter ended June 30, 2015 reporting a 33 per cent growth in standalone net profit . The company’s total income has increased from Rs.4792.4 crore for the quarter ended June 30, 2015 to Rs.6259.3 crore for the quarter ended June 30, 2016.

Total standalone income of the public sector undertaking (PSU) also rose by 31 per cent to Rs 6,119.86 crore in April-June quarter this fiscal as against Rs 4,689.88 crore during the same quarter last financial year.

Its total expenses were up at Rs 2,457.49 crore from Rs 1,933.24 crore during the period under review.

Shares of Power Grid today traded at a 52-week high at Rs 183.05 apiece on BSE.

The firm’s revenues from transmission business rose to Rs 5,950.88 crore during the June quarter from Rs 4,579.09 crore in the year-ago period.

From consultancy, the company’s revenue was also higher at Rs 121.56 crore in April-June 2016-17 as against Rs 89.98 crore in the same quarter last fiscal.

Income from telecom business was at Rs 122.48 crore in the first quarter compared to Rs 97.68 crore during the corresponding quarter last fiscal.

The promoters holding in the company stood at 57.9 % while Institutions and Non-Institutions held 34.93 % and 7.18 % respectively.

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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