OREANDA-NEWS. October 19, 2011. Power Grid Corporation of India Ltd. (POWERGRID), the Navratna PSU, has declared final dividend of `578.72 Crore for the Financial Year 2010-11. This is the highest ever final dividend paid by POWERGRID. A cheque of Rs.389.09 Crore towards final dividend for the year 2010-11 was handed over by Shri R.N Nayak, CMD, POWERGRID to the Hon’ble Union Minister of Power Sh. Sushilkumar Shinde on 07.10.2011 in the presence of Shri P. Umashankar, Secretary (Power), senior officials of Ministry of Power and POWERGRID Board Members. In addition to this, an interim dividend of Rs.155.64 Crore was earlier paid to the Ministry of Power for the year 2010-11.

The total dividend of Rs.810.23 Crore declared by POWERGRID is 2.5% (of Share Capital) higher than the last year’s dividend of Rs.631.34 Crore. The dividend amount of Rs.810.23 Crore is approximately 30% of the profit after tax of Rs.2697 Crore. POWERGRID has been consistently paying dividend since Financial Year 1993-94. POWERGRID has registered a net profit of Rs.2697 Crore over a turnover of Rs.9100 Crore in the FY 2010-11, registering a growth of 21% in turnover and 32 % in net profit compared to FY 2009-10. At present POWERGRID is operating about 86,000 ckt. kms. of transmission lines along with 138 Sub-stations with transforma¬tion capacity of more than 95,000 MVA. With the use of state-of-the-art preventive maintenance techniques, average availability of transmission systems during the year 2010-11 was maintained at 99.80%. POWERGRID continues to wheel about 50% of total power generated in the country through its transmission network.