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Powergrid Q3 Net Profit rises 20% at Rs 1,930 crore & Total Income increases by 24% to Rs 6,788cr

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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 ₹ 1,930 crore for the third quarter of FY 2016-17 (Oct-Dec, 2016), an increase of 20% against ₹ 1,606 crore reported during the corresponding quarter ended December 31, 2015.

Total Income (Turnover) for third quarter (Oct-Dec, 2016), rose to ₹ 6,788 crore, up by 24% from ₹ 5,477 crore in the corresponding year-ago period. 

For the nine month period (Apr-Dec, 2016), Total Income and Profit After Tax were ₹ 19,527 crore and ₹ 5,604 crore respectively both up by 28% from the Total Income and Profit After Tax reported during corresponding year-ago period. 

An interim dividend of ₹ 1 per share (Face Value of the share of ₹ 10 each) was also declared by the Company. 

During the current financial year i.e. 2016-17, POWERGRID has added about 4,600 ckm of transmission lines; seven substations and an aggregate transformation capacity of about 24,000MVA between Apr16 to Dec16. With this, POWERGRID’s physical assets as on 31st December 2016 included more than 134,000 ckm, 214 substations with transformation capacity of about 279,000 MVA.  

 

With the use of state-of-the-art maintenance techniques, average Availability of transmission system during the year 2015-16 was maintained at 99.72% and during the current year, the same has been maintained at 99.76% for the period Apr16-Dec16.

Business | News published on 10 / 02 / 2017 by Rashmi Nargundkar

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