Power Grid Q3 net jumps 37% on robust growth in transmission segment

Power Grid Q3 net jumps 37%
Power Grid Corporation of India Ltd (PGCIL) has reported the growth of 37 per cent in net profits for third quarter ended December 31, 2011 at Rs 809.23 crore, driven by strong growth in transmission segment.

The company had posted the net profits of Rs 591.19 crore during the same period a year ago, said the company in its filing to the Bombay Stock Exchange on February 8, 2012.

Meanwhile, the total revenues from operations grew 20.2 per cent to Rs 2,466.62 crore during Q3 FY12, as compared to Rs 2,052.12 crore during Q3 FY11. Besides, the revenues from power transmission segment grew 16.3 per cent to Rs 2,341.90 crore.

Also the transmission part managed to contribute 22.7 per cent growth in profits before taxes during the period as compared to previous year quarter.

On Thursday, the shares of the company were trading at Rs 108.60 up by 0.95 points or 0.88%.

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