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( 31 Jan 2020)
Power Grid Corpo Q3 net profit up 14.68% at Rs 2673.49 cr

The company reported standalone net profit of Rs 2,673.49 crore for the quarter ended December 31, 2019 as compared to Rs 2331.17 crore in the same period last year, registering a year-on-year growth of 14.68 per cent.

Net revenue of the company rose moderately by 6.15 per cent at Rs 8,991.98 crore in October-December quarter of this fiscal as against Rs 8,471.17 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 23.73 per cent to Rs 1,115.74 crore from Rs 901.77 crore in year ago period.

Other Income grew by 20.49 per cent at Rs 504.92 crore versus (Dec'18 Rs 419.04 crore).

Operating Profit surged by 4.05 per cent to Rs 7,876.24 crore as against Rs 7,569.40 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1.97 per cent in December quarter.

Interest grew by 8.74 per cent y-o-y to Rs 2,474.04 crore, while Taxation increased by 28.44 per cent at Rs 793.31 crore (Dec'18 Rs 617.67 crore).