Power Grid Q1 profit jumps 23 pc to Rs 870 cr

NEW DELHI: Power Grid Corp today reported 23 per cent increase in net profit at Rs 870 crore in the April-June quarter of this year.

The central transmission utility had a net profit of Rs 705 crore in the same period a year ago.

In the first quarter of this fiscal, the company's total income surged to Rs 2,980 crore from Rs 2,341 crore in the year-ago period, it said in a statement.

Power Grid expects to spend Rs 20,000 crore towards capital expenditure in the current financial year ending March 2013.

For the 12th Five-Year Plan period (2012-17), the utility aims a capital expenditure of Rs 1,00,000 crore.

At present, Power Grid is operating more than 95,000 circuit kilometres of transmission lines.

One circuit kilometre generally refers to one kilometre of electrical transmission line.