Power Grid Corp FY11 net up 32% to Rs 2,696 cr

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Power Grid Corp FY11 net profit up by 32%
Power Grid Corporation of India Ltd has posted a net profit of Rs 2,696 crore on a standalone basis in FY11, i.e. a growth of 32% as against a profit of Rs 2,040 crore reported in the last year. On further calculations, the total income on a standalone basis showed an increase by 21.2% to Rs 9,099 crore as against Rs 7,503 crore in previous year.

Further statistics suggest that the growth of 16% to Rs 7,690 was seen in the transmission income that forms the bulk of revenue. The total expenditure was also noticed to have increased 9.2% to Rs3, 536 crore.

Compared to the company"s 5-day average of 159,696 shares, the shares of the company were found trading with volumes of 467,665 shares after the increase in the net profit. This as further reported as an increase of 192.85%. The shares were however reported to close down at1.24% or Rs 1.25 at Rs 99.35, in the previous trading session.

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