PowerGrid net profit rises 13.20% to Rs 1,599 cr

State-run PowerGrid Corp has posted a 13.2 per cent rise in standalone net profit at Rs 1,599.05 crore for the March quarter on higher revenues from power transmission business.

The company had reported a net profit of Rs 1,412.48 crore in the January-March of 2014-15, PowerGrid Corp said in a regulatory filing.

The company's standalone income from transmission business increased to Rs 5,485.89 crore in the quarter under review from Rs 4,426.40 crore in the year-ago period, it said.

Its income from operations rose to Rs 5,760.07 crore in the fourth quarter of this fiscal compared Rs 4,703.22 crore in the preceding financial year. PowerGrid Corp reported a standalone net profit of Rs 6,026.72 crore in 2015-16 compared to Rs 4,979.17 crore in previous fiscal.

The company's total standalone income from operations too increased to Rs 20,802.22 in 2015-16 fiscal compared to Rs 17,177.23 crore in the previous financial year.

In a separate filing, PowerGrid Corp informed the Board of Directors of the company at its meeting held on May 26, 2016, has recommended final dividend of Rs 1.51 per share (face value Rs 10 each).

The total dividend (including interim dividend) for the financial year 2015-16 is Rs 2.31 per share (face value Rs 10 each). During the year, the company has paid an interim dividend of Rs 0.80 per share (face value Rs 10 each) for the year 2015-16.