State-run Power Grid Corporation disclosed a 32 per cent rise in standalone net profit at Rs 1,872 crore for the quarter which ended on September 30 on account of higher income from operations. The company had registered a net profit of Rs 1,418 crore on a standalone basis in the same quarter of last financial year, Power Grid Corporation’s BSE filling read. Total income rose to Rs 6,480.2 crore in July-September this year, more than Rs 4,990 crore in the year-ago period, the company said in a release.
The firm's revenues from transmission business increased to Rs 6,100.6 crore during the Sept quarter from Rs 4,721.22 crore in the year-ago period. From consultancy, the company's revenue was also higher at Rs 154.21 crore in September quarter 2016-17 as compared to Rs 100.7 crore in the same quarter last financial year. Income from telecom business was recorded at Rs 143.31 crore in the first quarter as compared to Rs 107.89 crore during the same quarter last fiscal. Power Grid Corporation, the central transmission utility, is involved in bulk power transmission.
On 9th Nov, Power Grid share price settled below 3 per cent at Rs.180.20. The stock opened at Rs. 170 as compared to its previous closing at Rs.177. The scrip touched the days high and low at Rs. 181.30 and Rs. 166.95.
Power Grid share touched its 52 week high value on 6th Sep ’16 at Rs. 187 whereas the 52 week low value is seen at Rs. 126.65 on 9th Nov ’15.
Power Grid is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Power Grid is fundamentally strong and is safe for investment, as per Dynamic analysts.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Power Grid share price history.
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