PowerGrid quarterly net rises 40% on revenues

Supported by strong revenue growth, PowerGrid on Tuesday reported a 40% growth in its net profit for the third quarter.

Supported by strong revenue growth, PowerGrid on Tuesday reported a 40% growth in its net profit for the third quarter (October-December 2012). The central transmission utility had posted net profit of R809 crore in the same period last year. Its revenue was Rs 2,577 crore, which jumped 35% to R3,490 crore in the latest quarter. On a sequential basis, the company?s net was only marginally higher in Q3.

The company commissioned over half a dozen transmission projects during this period. On an accumulated basis, it reported net profit of R3,125 crore during April-December, which was 40% higher than than of the same period last year.

This article was first uploaded on February thirteen, twenty thirteen, at eight minutes past one in the night.