Power Grid Corporation of India's Q1 net profit climbs 23%

MUMBAI: State-owned Power Grid Corporation of India (PGCIL) has witnessed a increase of 23 per cent in its standalone net profit at Rs 807.11 crore for the quarter ending June 2012 against the like period last year.

However, on a sequential basis, the company posted a decline in net profit from Rs 1,039.61 crore in the March 2012 quarter.

For the April-June quarter, the revenues of the company were up by 31 per cent at Rs 2,888.25 crore for the April-June 2012 quarter as compared to Rs 2,202.49-crore revenues.