Power Grid June Quarter Net Up 9.2 Per Cent at Rs 1,136 Crore

New Delhi: Power Grid Corporation of India Ltd (PGCIL) on Monday reported an over 9 per cent rise in net profit at Rs 1,136.51 crore for the quarter ended June 2014.

The state-owned transmission utility had posted a net profit of Rs 1,040.34 crore for the corresponding period a year ago.

As per a regulatory filing on Monday, Power Grid Corp registered a total income of Rs 4,075.11 crore in the first quarter of the ongoing fiscal year (2014-15). Total income stood at Rs 3,634.03 crore a year ago.

"Out of the proceeds of follow-on public offer (FPO) made during the financial year 2013-14, a sum of Rs 2,782,16 lakh has been utilised up to June 30, 2014 as per the objects of the issue and the balance of Rs 2,525,00 lakh is kept in the banks as term deposits," the filing noted.

Shares in Power Grid, on Monday, ended at Rs 132.05 on the BSE, up nearly 2 per cent from the previous close.