From correspondents in Maharashtra, India, 07:01 PM IST

Public sector electricity major Power Grid Corp of India Tuesday reported a net profit of Rs.1,690.6 crore for 2008-09 as against Rs.1,448.5 crore recorded the year before, an increase of 16.7 percent.

The company is involved in construction, operation and maintenance of inter-state transmission system and regional power grids.

Power Grid Corp said in a statement that its turnover rose 38.3 percent last fiscal to Rs.7,028.5 crore from Rs.5,081.5 crore in 2007-08.

The company has declared a dividend of 70 paise per equity share of Rs.10.

(Staff Writer, © IANS)