Power Grid reports 8 per cent jump in profit at Rs 2,309.49 crore

The company's standalone net profit was Rs 2,141.04 crore in the quarter ended on September 30, 2017, stated a BSE filing.

State-run transmission utility Power Grid posted about 8 per cent jump in its standalone net profit at Rs 2,309.49 crore in the quarter ended September 30, 2018.

The company's standalone net profit was Rs 2,141.04 crore in the quarter ended on September 30, 2017, stated a BSE filing.

According to a statement, the company's total income in the second quarter rose to Rs 8,689.95 crore from Rs 7,492.52 crore year ago.

The company, in its 29th Annual General Meeting, held on 18th September has declared and paid final dividend of Rs 2.80 per share (face value of Rs 10 each) during the current quarter in addition to interim dividend of Rs 2.45 per share paid earlier, totalling to Rs 5.25 per share for the financial year 2017-18.

It has recognised (power) transmission (segment) income during the quarter at Rs 7,104.34 crore up from Rs 5,770.69 crore year ago as per final tariff orders issued by CERC (central electricity regulatory authority).

It has also recognised power transmission income of Rs 842.14 crore for the quarter up from Rs 1,179.88 crore year ago in respect of transmission assets for which final tariff orders are yet to be issued as per the CERC Tariff Regulations.