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Buoyed by strong topline growth, Power Grid Corporation of India Ltd reported a 21 per cent surge in the net profit for the quarter ended December 31, 2010.
The State-owned transmission major posted a profit after tax of Rs 591 crore during the latest reported quarter, compared with Rs 488 crore in the corresponding quarter of the previous fiscal.
Total income increased 22 per cent to Rs 2,145 crore for the latest reported quarter.
The company also announced that the Board of Directors, at its meeting held on Tuesday, has declared interim dividend at the rate of 5 per cent of share capital — Re. 0.50 for a share of Rs 10 each.
The Power Grid stock closed the day at Rs 95.70, down 2.20 per cent. The stock hit an intra-day high of Rs 98.90 and low of Rs 95.45.
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