By Kosaku Narioka
Power Grid Corp. of India Ltd.'s fourth-quarter net profit rose 8.2%, thanks partly to higher transmission revenue, it said Saturday.
Net profit for the quarter ended March rose to 33.13 billion rupees ($434.2 million) from INR30.61 billion a year earlier, the Indian power-transmission company said.
Revenue increased 6.4% to INR101.48 billion, it said.
Power Grid said the pandemic had no material impact on its operations in the previous fiscal year.
The coronavirus lockdown led to a decline in power demand, however, and it expects customers to delay payment of transmission charges in the current fiscal year, the company said.
Power Grid said it approved a one-time rebate of INR10.75 billion to power-distribution companies and state governments in April and May.
Write to Kosaku Narioka at firstname.lastname@example.org