POWERGRID net profit up by 10%

POWERGRID net profit up by 10%

Registers FY18 Total Income of Rs.30,766 crore and Profit After Tax cross Rs.8,000 crore

Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company under Ministry of Power, GoI and the ‘Central
Transmission Utility (CTU)’ of the country, has posted a Net Profit of Rs.8,239 crore on a Total Income of Rs.30,766 crore for FY 2017-18, registering a growth of about 16% in Total Income and 10% in Net Profit as compared to FY 2016-17, on a standalone basis. The Company surpassed Rs.30,000 crore Total Income and Rs.8,000 crore Profit After Tax for the first time.

For the fourth quarter of FY2017-18, the Company has posted a Net Profit of Rs.2,005crore, as against a Net Profit of Rs.1,916 crore registering an increase of 5% with respect to corresponding period of FY 2016-17.

The Company capitalized assets worth Rs.27,370 crore and incurred a capital expenditure to the tune of Rs.25,791 crore during FY 2017-18. For FY 2018-19, the Company has planned a capital expenditure of Rs. 25,000 crore.

The Company has proposed a final dividend of 28%(Rs. 2.80 per share on a face value of Rs. 10/- each)in addition to interim dividend of 24.5% (Rs. 2.45 per share on a face value of Rs. 10/- each) already paid for the financial year 2017-18.

During FY 2017-18, POWERGRID completed inter-regional transmission elements-765kV D/C Jabalpur–Orai, LILO of 765kV S/C Satna-Gwalior at Orai, Pole-III & IV of NER Agra HVDC & Pole-II of Champa Kurukshetra HVDC thereby, enhancing the Inter- Regional Power transfer capacity by 11,400MW.In addition, a number of major transmission lines were commissioned during the year,some of which include 765kV D/C Ajmer-Chittorgarh, 400kV D/C Kameng-Balipara, 400kV D/C Aurangabad-Boisar, 765kV D/C Aurangabad-Padghe, 400kV D/C Padghe-Kudus-Kala, 765kV D/C Wardha-Nizamabadand 400kV D/C Kishenpur-Dulhasti&Kishenpur-New Wanpoh transmission lines.

POWERGRID during FY 2017-18 successfully acquiredERSS XXI Transmission Limitedand WR-NR Power Transmission Limited under TBCB.POWERGRID’s TBCB subsidiaries viz., POWERGRID Vizag Transmission Ltd. & POWERGRID Unchahar Transmission Ltd. declared maiden dividends during FY 2017-18.

As at the end of FY2017-18, POWERGRID is operating about 148,300ckt. kms. of transmission lines along with 236 Sub stations with transformation capacity of more than 332,100 MVA. With the use of state-of-the-art maintenance techniques, average
Availability of transmission system during the year 2017-18 was maintained at a high of 99.81% as compared to 99.79% for FY
2016-17.