Power Grid Corporation of India Limited, an Indian state-owned electric utility company, transmits about 50% of the total power generated in India on its transmission network. Headquartered out of Gurugram, Power Grid announced its second quarter results with a 14% increase in net profit and a 16% growth in its total income.
Newsbarons provides you the highlights of a media interaction, where Chairman and Managing Director I S Jha, Power Grid Corporation stated “We are planning to invest INR 25,000 crore in FY18.”
NB: Brief us about your Financials?
I S Jha: We have posted a net profit of Rs. 2,141 crore for the second quarter of FY 2017-18 (Jul-Sep, 2017), an increase of 14% against Rs.1,872 crore reported during the corresponding quarter ended September 30, 2016.
Total Income (Turnover) for second quarter (Jul-Sep, 2017) rose to Rs.7,492 crore, up by 16% from Rs. 6,480 crore in the corresponding year ago period.
Income for first half of financial year FY18 rose to Rs. 14,882 crore, an increase of 17% over Rs. 12,739 crore reported last year.
NB:What were the major developments for the quarter?
I S Jha: During the second quarter, the company has added about 2,260 ckm of transmission lines; four substations and aggregate transformation capacity of ~ 17,500 MVA.
Some of the major transmission elements commissioned during the period July-September, 2017 are Pole-II of Champa-Kurukshetra HVDC, Pole-III & Pole-IV of NER-Agra HVDC in addition to 765kV D/C Maheshwaram-Nizamabad, 400kV D/C Kishenpur-New Wanpoh, 400kV D/C Lara (NTPC)-Champa (POWERGRID) and 400kV Mauda-Betul & Betul-Khandwa transmission lines.
The substations commissioned during the period are Maheshwaram, Alipurduar HVDC, Alipurduar Pooling Station and Betul.
The company also completed and charged 220 kV S/c Leh – Khalsti Line section of 220 KV S/c Alusteng (Srinagar) – Leh Transmission line, along with 220/66 kV GIS sub-stations at Leh and Khalsti on 31st Oct’17. This is the first time in the country that any 220kV voltage level substation is built at such a high altitude of over 11500 ft.
NB: Brief us about your business in different segments?
I S Jha: The company bagged 3 new orders signed in consultancy services segments. About Rs.323 crore of income comes from consultancy services in this quarter.
There was a growth in telecom segment. About Rs. 297 crore of income comes from telecom segment.
NB: Comment on your Capex plans?
I S Jha: We are planning to invest Rs. 25,000 crore in FY18.
NB: Brief us about your ongoing projects?
I S Jha: We have a total orders in hand worth Rs.1,09,000 crores.