Power Grid Q3 net rises 31% to Rs 488 cr

State-run Power Grid Corporation of India said its net profit grew 31 per cent to Rs 487.84 crore in the third quarter ended December 31, 2009, over the same period a year ago.

The company had net profit of Rs 372.35 crore in the same quarter last fiscal, Power Grid Corporation of India said in a filing with the Bombay Stock Exchange (BSE).

Total income of the company, engaged in bulk power transmission business, increased to Rs 1,525.41 crore in the quarter from Rs 1,477.44 crore during the same period previous year, it said.

For the nine-month period ended December 31, 2009, net profit jumped up to Rs 1,494.42 crore from Rs 1,074.47 crore in the same period previous year.

Total income rose to Rs 4,896.99 crore for the nine months ended December 2009, from Rs 4,425.96 crore during the same period last fiscal.

Shares of the public sector enterprise closed at Rs 114.60, up 0.31 per cent from previous close on the BSE.