Power Grid's net profit rises by 33%; shares up

State-owned Power Grid Corporation reported net profit of Rs 1801.77 crore for the quarter ended June 2016 (Q1FY17), a rise of 32.90% from Rs 1355.64 crore in the similar quarter of the previous year. 

The company's total income was at Rs 6119.86 crore, registering growth of 30.49% versus Rs 4689.88 crore in June 2015. 

The top-line and bottome-line was boosted by transimission business and better EBITDA (earnings before interest tax depreciation and amortization). 

Operating profit (EBITDA) of the company was at Rs 5419.64 crore, increasing by 31.08% year-on-year (yoy). While it's operating profit margin (OPM) was at 88.55%, expanding by 40 basis points yoy. 

On segment-wise revenue break-up the transmission business grew by 30% to Rs 5950.88 crore from Rs 4579.09 a year ago same period. 

Further Consultancy business also contributed a 35.09% yoy rise to Rs 121.56 crore and that of telecom business stood at Rs 122.48 crore up by 25.38%. 

The share price of Power Grid Corporation was trading at Rs 178.75 up by Rs 0.85 or 0.51%.