Power Grid Corporation of India, a leading power transmission company in India, on August 12 said that the company approved proposal to infuse fresh equity of up to Rs 4,250 million in the Joint Venture (JV) company.

"The board of directors in its 394th meeting approved proposal to infuse fresh equity of up to Rs 4,250 million in Energy Efficiency Services (EESL), a Joint Venture Company of Power Grid, NTPC, PFC and REC," the company said.

The company reported a nearly three-fold jump in consolidated net profit at Rs 59,982.8 million in the June quarter, mainly on the back of higher revenues. The consolidated net profit stood at Rs 20,484.2 million in the year-ago period. Total income of the company rose to Rs 103,916.1 million in the June quarter from Rs 98,167.2 million in the same period a year ago.

Shares of the company gained Rs 10.95, or 6.22%, to settle  at  Rs 187.05.  The total volume of shares traded  was 3,086,450 at  the BSE (Thursday).