Power Grid Q1 net jumps 23% to Rs 870 cr

Total income rises 27% to Rs 2,980 cr

State-owned central transmission utility Power Grid Corporation of India reported a 23.4% rise in net profit at Rs 870 crore for the quarter ended June 2012. It was Rs 705 crore in the corresponding period a year ago.

The company's total income grew by 27% to Rs 2,980 crore as against Rs 2,341 crore in June 2011.

Power Grid's stocks were trading 0.7% lower at Rs 110 on BSE at 1250 hours.