Millennium Post

PowerGrid energises Q2 income by 5%

PowerGrid  energises Q2 income by 5%
State-run Power Grid Corporation on Tuesday posted a marginal decline in net profit for the quarter ended September 30 at Rs 1,201.27 crore due to higher finance cost.

The company's net profit during the corresponding quarter last fiscal stood at Rs 1,239.2 crore, PGCIL said in a filing to the Bombay Stock Exchange. Its total income during the July-September quarter increased five per cent to Rs 4,309.26 crore from Rs 4,104.43 a year-ago.

The firm's finance cost rose 23.41 per cent to Rs 989.09 crore from Rs 801.41 crore in the same period last year. PGCIL shares closed at Rs 147.45 a piece, down 0.51 per cent on the BSE which closed at 27,910.06.


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