MUMBAI, (GNI): L-R: Anil Jain, Executive Director (Corporate Planning), Prabhakar Singh, Director Projects, I.S. Jha, CMD, K Sreekant, Director Finance, Seema Gupta, Director Operations, V K Saksena, Chief Vigilance Officers (CVO) during the press conference in Mumbai – photo by Sumant Gajinkar
MUMBAI, (GNI): Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, 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, announced by I.S. Jha, CMD, Power Grid Corporation of India Limited during press conference in Mumbai.
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 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.
As at the end of FY2017-18, POWERGRID is operating about 148,300 ckt. kms. of transmission lines along with 236 Sub-stations with transformation capacity of more than 332,100 MVA. With the use of state-of-the-art maintenance techniques, average Availability of transmission system during the year 2017-18 was maintained at a high of 99.81% as compared to 99.79% for FY 2016-17. Ends