Powergrid Q1 Net Profit Rises 9 percent to Rs, 2,241 Crore

New Delhi: Power Grid Corporation of India Limited, has posted a Net Profit of Rs. 2,241 crore for the first quarter of FY 2018-19 (April-June, 2018), an increase of 9% against Rs. 2,052 crore reported during the corresponding quarter ended June 30, 2017.

 

Total income (turnover) for the first quarter (April-June, 2018), Rose to Rs. 8,428 crore, up by 14% from Rs. 7,390 crore in the corresponding year-ago period.

On a standalone basis, POWERGRID had registered a Net Profit of Rs. 8,239 crore on a turnover of Rs. 30,767 crore in the FY 2017-18.

 

POWERGRID’s Gross Fixed Assets stood at Rs. 1,80,796 crore as at June 30, 2018. During the quarter, the company incurred capital expenditure of about Rs. 6,400 crore. The company has targeted a capital expenditure of Rs. 25,000 crore for FY 2018-19.

 

POWERGRID’s physical assets as on June 30, 2018, include more than 1,48,600 km of transmission lines, 236 Sub-stations with transformation capacity of more than 3,32,100 MVA.  

 

With the use of state-of-the-art maintenance techniques, average availability of transmission system during the quarter (April– June 2018) was 99.68%.

 

During FY 2018-19, POWERGRID’s TBCB subsidiaries namely, POWERGRID Parli Transmission Limited & POWERGRID Warora Transmission Limited have successfully completed their respective projects and the same have been declared under commercial operation.