Power Grid quarterly profit falls 8 pc to Rs 1,042 crore

Image
Press Trust of India New Delhi
Last Updated : Feb 05 2014 | 9:52 PM IST
State-owned Power Grid Corp saw its net profit slide nearly eight per cent to Rs 1,042.04 crore in the three months ended December 2013, mainly due to higher finance costs and tax expenses.
The power transmission utility had a net profit of Rs 1,129.06 crore in the same period a year ago, according to a regulatory filing today.
However, total income from operations jumped to Rs 3,684.55 crore in the third quarter of current financial year from Rs 3,368.93 crore in the year-ago period.
The company's finance costs rose to Rs 787.35 crore in the latest December quarter from Rs 684.82 crore in the year-ago period.
During the quarter under review, the company also had deferred tax of Rs 107.99 crore whereas the same stood at Rs 81.03 crore in the same period a year ago.
Shares of the company rose over one per cent to close at Rs 96.55 on the BSE.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 05 2014 | 9:52 PM IST

Next Story