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News Details

12/11/2020 12:20

Power Grid Corpo Q2 net profit up 23.36% at Rs 3117.41 cr

The company reported standalone net profit of Rs 3,117.41 crore for the quarter ended September 30, 2020 as compared to Rs 2527.14 crore in the same period last year, registering a year-on-year growth of 23.36 per cent.

Net revenue of the company rose marginally by 4.29 per cent at Rs 9,057.89 crore in July-September quarter of this fiscal as against Rs 8,684.98 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 3.65 per cent to Rs 1,086.84 crore from Rs 1,128.07 crore in year ago period.

Other Income grew by 67.05 per cent at Rs 832.25 crore versus (Sep'19 Rs 498.20 crore).

Operating Profit surged by 5.48 per cent to Rs 7,971.05 crore as against Rs 7,556.91 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 1.14 per cent in September quarter.

Interest declined by 11.83 per cent y-o-y to Rs 2,095.03 crore, while Taxation decreased by 9.69 per cent at Rs 682.35 crore (Sep'19 Rs 755.54 crore).