Mumbai, Oct 29 : State-run Rural Electrification Corp Thursday said its net profit for the quarter ended Sep 30 rose 60 percent to Rs. 494.36 crore from Rs. 308.79 crore reported in the like period last year.

The total income of the company grew 38.29 percent to Rs. 1,623 crore for the quarter under review from Rs. 1,173.58 crore a year earlier.    

The government will likely consider a proposal soon to divest 10 percent in the company, whose main objective is to finance and promote rural electrification projects all over the country.    

The company's stock rose 1.47 percent to Rs. 199 Thursday from its previous close of Rs. 196.10.    (IANS)