POWERGRID Q2 Net Profit rises 14% to Rs.2,141 crores
Mumbai, November 3, 2017 : Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company under Ministry of Power, GoI, has 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. On astandalone basis, POWERGRID had registered a net profit of Rs. 7,520 crore on a turnover of Rs. 26,581crore in the FY 2016-17.
During the secondquarter (Jul-Sep, 2017) of the current financial year i.e. 2017-18, POWERGRIDhas added about 2,260 ckm of transmission lines; four substations and aggregatetransformation capacity of ~ 17,500 MVA. Some of the major transmissionelements commissioned during the period July-September, 2017 are Pole-II ofChampa-Kurukshetra HVDC, Pole-III & Pole-IV of NER-Agra HVDC in addition to765kV D/C Maheshwaram-Nizamabad, 400kV D/C Kishenpur-New Wanpoh, 400kV D/C Lara(NTPC)-Champa (POWERGRID) and 400kV Mauda-Betul & Betul-Khandwatransmission lines.
The substationscommissioned during the period are Maheshwaram, Alipurduar HVDC, AlipurduarPooling Station and Betul. POWERGRID’s physical assets as on September 30, 2017include more than 142,990 ckm of transmission lines, 226 substations withtransformation capacity of more than 3,11,100 MVA. With the use ofstate-of-the-art maintenance techniques, average Availability during the currentyear, has been maintained at 99.83% till the second quarter.