PowerGrid net rises 14 % in July-September quarter
3 Nov 2017 10:57 PM IST
New Delhi: State-run Power Grid Corp on Friday posted a 14 per cent increase in standalone net profit at Rs 2,141.04 crore for quarter ended on September 30, 2017 compared to the year ago period on the back of higher revenues. The company's net profit for the quarter ended September 30, 2016 was Rs 1,872 crore, Power Grid Corp stated in a BSE filing.
Total income of the company in the second quarter rose to Rs 7,492.52 crore from Rs 6,480.20 crore in the same period year ago. The company's revenue from power transmission business increased to Rs 7,063.42 crore in the second quarter up from Rs 6,100.65 crore year ago.
Revenues from telecom segment also increased to Rs 173.78 crore in the quarter, up from Rs 143.31 crore year ago. However, its revenue from consultancy business decreased to Rs 115.85 crore in second quarter from Rs 154.21 crore year ago.
Meanwhile, Power Grid Corporation plans to raise around Rs 3,000 crore through masala bonds. "We have been raising through domestic and overseas bonds. Masala bonds are also an option that we are looking at. We have already approached the RBI for its approval for raising around Rs 3,000 crore through masala bonds," PGCIL Director (Finance) K Sreekant said.
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