Public sector power solutions major Power Grid Corporation of India has informed that it has registered a growth of 156 % in its net profit for the quarter ended March 2009, following clearance of past transmission charges by the regulator.

The company posted a net profit of Rs 616 crore in the quarter, against a net profit of Rs 240 crore in the corresponding quarter the previous year.

Further, it also witnessed a surge of 35% in its total income, which grew to Rs 2,334 crore, as compared to Rs 1,729 crore, corresponding quarter the previous year.

For the financial year ended March 31, 2009, the company posted a net profit of Rs 1,690.61 crore, up 16.71 per cent against Rs 1448.47 crore of a year earlier.

Total income of the company rose to Rs 6,675.85 crore during the latest fiscal from Rs 4,702.47 crore of FY'08.

Apart from the announcement of results, the company has declared a final dividend of 7% of share capital i. e. Rs 0.70 per share of Rs 10/- each, which is an addition to interim dividend of 5% of share capital i. e. Re 0.50 per share.

Shares of Power Grid surged over 1.39 per cent to trade at Rs 124 in the afternoon trade on the BSE.