POWERGRID Q1 profit rises 23% at Rs. 870 crore

Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company and the ‘Central Transmission Utility (CTU)’ of the country, has posted a net profit of  Rs. 870 crore for the first quarter of FY 2012-13 (April-June, 2012), against Rs. 705 crore reported during the corresponding quarter ended June 30, 2011. Profit in the current quarter has increased by 23% as against 0.28% increase in the corresponding quarter of the previous year.

Total Income (turnover) for first quarter (April-June, 2012), rose to  Rs. 2980 crore, up 27% from Rs. 2341 crore in the corresponding quarter of previous year.

POWERGRID had registered a net profit of Rs. 3255 crore on a turnover of Rs. 10,785 crore in the FY 2011-12, registering a growth of about 19% in Turnover and 21% in Net Profit compared to FY 2010-11 and the Company has declared a total dividend of 21.1%

At present, POWERGRID is operating more than 95,000 ckt. kms. of transmission lines along with 155 Sub-stations with transforma¬tion capacity of about 136,400 MVA. The existing Inter-Regional power transmission capacity is about 28,000MW and the average availability during the quarter is maintained at 99.92%.

After successfully meeting its capex target of Rs. 55,000 crore for XI Plan, POWERGRID has now planned Rs. 100,000 crore capital expenditure in XII plan. The company has a capex plan of Rs. 20,000 crore for the current financial year.

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