Shares of Power Grid Corp today rose by nearly 3 per cent after the company reported 32 per cent jump in net profit for the September quarter.
The stock gained 2.38 per cent to Rs 184.75 on BSE.
At NSE, shares of the company jumped 2.66 per cent to Rs 185.
Buoyed by power demand growth coupled with higher income from consultancy services and telecom segment, Power Grid Corp yesterday posted 32 per cent jump in net profit at Rs 1,872 crore for the September end quarter.
The company's standalone net profit was Rs 1,418 crore in July-September quarter in the previous fiscal, Power Grid Corp Chairman and Managing Director I S Jha said in a press conference.
Elaborating further Jha stated in a detailed presentation that the income from transmission charges grew at 28 per cent in the quarter to Rs 5,971 crore from Rs 4,670 crore in year ago period mainly due to 7-8 per cent growth in electricity consumption per annum in the country.
(REOPENS DCM16)
At close of trade today, shares of the company ended at Rs 188.35, up 4.38 per cent on BSE. During the day, it surged 5.23 per cent to Rs 189.90.
On NSE, shares of Power Grid gained 4.57 per cent to close at Rs 188.45.
In terms of volume, 5.91 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
