Power Grid plans to invest INR 25,000 crore in 2018: IS Jha, PowerGrid

 

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.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com