POWERGRIDs Profit Crosses Rs. 8000 Crore

POWERGRIDs Profit Crosses Rs. 8000 Crore

Mumbai: Power Grid Corporation of India Limited 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 FY 2017-18, the Company has posted a Net Profit of Rs. 2,005 crore, as against a Net Profit of Rs. 1,916 crore registering an increase of 5% with respect to the 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-Nizamabad and 400kV D/C Kishenpur-Dulhasti & Kishenpur-New Wanpoh transmission lines. 
 
POWERGRID during FY 2017-18 successfully acquired ERSS XXI Transmission Limited and 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. 
 

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