PowerGrid Net up 22% at Rs 1,916 cr in Jan-Mar quarter

State-run Power Grid Corp's standalone net profit jumped 22 per cent year-on-year to Rs 1,916.36 crore in the quarter ended on March 31, 2017.
The company had reported a standalone net profit of Rs 1,568.58 crore in the quarter ended on March 31, 2016.
Its total income rose to Rs 7,054.45 crore in the fourth quarter of 2016-17 from Rs 5,984.49 crore in the year ago period, Power Grid Corp said in BSE filing.
The company's standalone net profit increased to Rs 7,520.15 crore in 2016-17 from Rs 5,948.50 crore in 2015-16.
Total income also rose to Rs 26,581.41 crore in 2016-17 from Rs 21,243.30 crore in 2015-16.

The consolidated profit for 2016-17 was Rs 7,450.73 crore compared to Rs 5,958.61 crore in the previous fiscal.

The board of directors has recommended a final dividend of Rs 3.35 per share (face value of Rs 10 each). During the year the company has paid Rupee 1 as interim dividend. Therefore, the total dividend would be Rs 4.35 for 2016-17.
The board also approved non-sovereign loan assistance from Asian Development Bank of USD 500 million for Green Energy Corridor and Grid Strengthening Projects.
The board also approved investment of Rs 445.89 crore for transmission system for Tumkur Ultra Mega Solar Park. It also gave approval for purchase of security equipment for Rs 199.79 crore.