POWERGRID Q3 net profit rises 15 pct to 2673 crore

New Delhi. Power Grid Corporation of India Limited has posted a Profit After Tax of ?2,673 crore and Total Income of ?9,497 crore for the third quarter (Oct-Dec,2019)on standalone basis.

 

On a consolidated basis, the Company has posted Profit After Tax and Total Income of ?2,672crore and ?9,541 crore respectively for the third quarter (Oct-Dec,2019), registering an increase of about 14% &7% respectively with respect to corresponding period of FY19.

 

For nine-month period (Apr-Dec, 2019), the Profit After Tax and Total Income on standalone basis are ?7,629 crore and ?27,908 crore respectively, which are about 11% and 7% higher with respect to corresponding period of FY19, while on consolidated basis, the Profit After Tax and Total Income are ?7,746 croreand ?28,163 crore are respectively, registering a growth of 11 % and 8 % respectively.

 

Capital expenditure and capitalization during the quarter was about ?3,953 crore and ? 5,230 crore (excluding FERV) respectively, on a consolidated basis. For the nine month period (Apr-Dec, 2019) capital expenditure and capitalization was about ?10,485 crore and ?10,917 crore (excluding FERV) on a consolidated basis. POWERGRID’s Gross Fixed Assets on a consolidated basis stood at about ? 218,838 crore as on Dec 31, 2019. The Company has targeted a capital expenditure of ?15,000 crore for FY2019-20.