PowerGrid Q2 profit declines marginally to Rs 1,201 cr

State-run Power Grid Corporation (PGCIL) today posted a marginal decline in net profit for the quarter ended September 30 at Rs 1,201.27 crore due to higher finance cost.

The company's net profit during the corresponding quarter last fiscal stood at Rs 1,239.2 crore, PGCIL said in a filing to the Bombay Stock Exchange.

Its total income during the July-September quarter increased five per cent to Rs 4,309.26 crore from Rs 4,104.43 a year-ago.

The company's finance cost increased by 23.41 per cent to Rs 989.09 crore from Rs 801.41 crore in the comparable period last year

PGCIL shares closed at Rs 147.45 a piece, down 0.51 per cent on the BSE, which closed at 27,910.06, up 0.13 per cent today.