Powergrid energises quarterly profit by 32% to ₹1,872 crore

NEW DELHI: State-run Power Grid Corporation on Wednesday posted 32 per cent rise in standalone net profit at Rs 1,872 crore for the quarter ended September 30 on the back of higher income from operations.

The company had clocked a net profit of Rs 1,418 crore on a standalone basis in the corresponding quarter of previous fiscal, Power Grid Corporation said in a filing to BSE.

Total income increased to Rs 6,480.2 crore in July-september this year, over Rs 4,990 crore in the year-ago period, the company said in a release.

The firm’s revenues from transmission business rose to Rs 6,100.6 crore during the July-september quarter from Rs 4,721.22 crore in the yearago period. From consultancy, the company’s revenue was also higher at Rs 154.21 crore in September quarter 2016-17 as against Rs 100.7 crore in the same quarter last fiscal.

Income from telecom business was at Rs 143.31 crore in the first quarter compared to Rs 107.89 crore during the corresponding quarter last fiscal. Power Grid Corporation, the central transmission utility, is engaged in bulk power transmission.

During the April-october period of the current financial year, Power Grid Corporation of India added about 2,780 circuit kilometres (ckm) of transmission lines and six substations and aggregate transformation capacity of 19,000 MVA (megavolt ampere).

During the period, the company also “commissioned Pole-ii of 800kv HVDC NERAGRA transmission line thereby increasing the inter-regional power transfer capacity of national grid by 1,500 mw”, the release said.

With this, the company’s physical assets as on October 31, 2016 include more than 132,300 ckm, 213 substations with transformation capacity of more than 273800 MVA.