POWERGRID’s Profit After Taxcrosses ₹10,000 crore,Gross Assets surpass ₹2,00,000 crore

Sarkaritel
By Sarkaritel May 29, 2019 20:56


New Delhi, 29.05.2019

Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company under Ministry of Power, Government of India and the ‘Central Transmission Utility (CTU)’ of the country, crossed ₹10,000 crore profit for the first time as it posted a Profit After Tax of ₹10,034crore on consolidated basis.

On a standalone basis, the Company posted Profit After Tax and Total Income of ₹9,939 crore and ₹35,618 crore respectively for FY19 registering an increase of 21% &16% respectively with respect to FY 2017-18.

During the year, POWERGRID capitalized assets worth ₹25,869 croreincluding itssubsidiaries. The Gross Assets of the Company increased to ₹1,97,793 croreas at the end of FY19 from ₹1,77,100 crore as at the end of FY18 on standalone basis. Capital expenditure for the year including subsidiaries was ₹25,807 crore during the financial year.

The Company has proposed a final dividend of 25%(₹2.50 per share on a face value of ₹10/- each)in addition to interim dividend of 58.3% (₹5.83 per share on a face value of ₹10/- each) already paid for the financial year 2018-19.

During FY 2018-19, POWERGRID completed inter-regional transmission lines viz. 765kV D/C Jharsuguda-Dharamjaygarh and 765kV D/C Banaskantha-Chittorgarh thereby, enhancing the Inter-Regional Power transfer capacity by 8,400MW.In addition, a number of major transmission lines were commissioned during the year,some of which include Angul-Jharsuguda, Aligarh-Orai,Bhuj-Banaskantha,Tumkur (Pavagada)-Hiriyur, Farakka-Beherampur, Silchar-MelriatandTezu-Namsai transmission lines.

Sarkaritel
By Sarkaritel May 29, 2019 20:56