State-owned central transmission utility Power Grid Corporation of India (PGCIL) has reported a 23 per cent increase in its standalone net profit at Rs 807.11 crore for the quarter ending June 2012 against the same period last year.
However, on a sequential basis, the company reported a drop in net profit (from Rs 1,039.61 crore in the March 2012 quarter.)
Revenues were up 31 per cent at Rs 2,888.25 crore for the April-June 2012 quarter (Rs 2,202.49 crore).
On Wednesday, the company scrip closed marginally down at Rs 110.55 on BSE.