Powergrid reports a 26 per cent rise in consolidated net profit for December quarter

 Power Grid Corporation of India Limited (Powergrid) has reported a rise of 26 per cent in consolidated net profit at Rs 33.67 billion for the quarter ended December 2020, mainly on the back of higher revenues. …

Its total income stood at Rs 103.59 billion in the quarter as against Rs 95.41 billion in the same period last year. It has been claimed that there has been no material impact of the pandemic on operations of the group during April to December in the current fiscal year. However, Powergrid has given a consolidated one-time rebate of Rs 10.78billion to discoms and power departments of states and UTs for passing on to the end consumers, owing to the pandemic, against the billing of April and May months of 2020.

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