India's Power Grid Profits Soar

India's largest power transmission company Power Grid Corp has announced a 15 percent rise in full-year profit due to the expanding network boosting sales.

Net income in the year ending March rose to Rs14.2bn (US$356m) from Rs12.3bn a year earlier, the company told the National Stock Exchange.

Revenue climbed 15 percent to Rs47bn from Rs40.8bn.

India plans to spend Rs280bn in the next five years to help sustain economic growth of more than nine percent annually, writes Bloomberg.

By staff writer