POWERGRID’s Profit After Tax crosses ₹8,000 crore

Sarkaritel
By Sarkaritel May 30, 2018 19:27


30.05.2018

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 ₹ 8,239croreona Total Incomeof ₹ 30,766crorefor 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 ₹ 30,000 croreTotal Incomeand ₹ 8,000 crore Profit After Tax for the first time.

For the fourth quarter of FY2017-18, the Company has posted a Net Profit of ₹ 2,005crore, as against a Net Profit of ₹ 1,916 crore registering an increase of 5% with respect to corresponding period of FY 2016-17.

The Company capitalized assets worth ₹ 27,370croreand incurred a capital expenditure to the tune of ₹ 25,791crore during FY 2017-18. For FY 2018-19, the Company has planned a capital expenditure of ₹ 25,000 crore.

The Company has proposed a final dividend of 28%(₹ 2.80 per share on a face value of ₹ 10/- each)in addition to interim dividend of 24.5% (₹ 2.45 per share on a face value of ₹ 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 ChampaKurukshetra HVDCthereby, 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-Nizamabadand 400kV D/C Kishenpur-Dulhasti&Kishenpur-New Wanpoh transmission lines.

POWERGRID during FY 2017-18 successfully acquiredERSS XXI Transmission Limitedand 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.

Sarkaritel
By Sarkaritel May 30, 2018 19:27