Power Grid Corporation of India has opened 3% higher at Rs 111 after reporting 37% year-on-year (yoy) growth in net profit at Rs 809 crore for the quarter ended December 2011, compared with Rs 591 crore in the corresponding quarter of previous fiscal. Total revenue from operations grew 20% at Rs 2,467 crore on yoy basis.

The operating profit margins (OPM) improved by 107 basis points at 89.56% from 88.49% during the recently concluded quarter.

The board of directors of state-owned company has recommended an interim dividend of Rs 0.80 per share of Rs 10 each (8% of share capital) for the financial year 2011-12.

A combined 350,000 shares have changed hands on the counter so far on both the exchanges.