Power Grid Corporation of India Ltd has reported a 9.87 per cent higher net profit at Rs 2,502.8 crore for the first quarter of financial year 2019-2020. The company had reported a Rs 2,277.87 crore net profit in the first quarter of the financial year 2018-2019.

The higher profit was in line with the Rs 9,361.72 crore total income reported during the quarter under review. This is 11.76 per cent higher than the Rs 8,376.48 crore total income reported by the company in the corresponding quarter of the preceding financial year.

Shares of PGCIL closed 1.73 per cent lower at Rs 210.35 a scrip on Friday.