Power Grid reports Rs 870 crore profit in Q1

State-owned central transmission utility (CTU) Power Grid Corporation of India (PGCIL) has reported a net profit of Rs 870 crore for the first quarter of FY 2012-13, against Rs 705 crore reported during the corresponding quarter ended June 30, 2011. According to a statement released by PGCIL, “Profit in the current quarter has increased by 23 per cent as against 0.28 per cent increase in the corresponding quarter of the previous year. Total income for the first quarter rose to Rs 2,980 crore, up by 27 per cent from Rs 2,341 crore in the corresponding quarter of previous year.

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