Powergrid 3Q Profit Rises 37% to Rs. 809 Crore
OREANDA-NEWS. February 14, 2012. Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company and the ‘Central Transmission Utility (CTU)’ of the country, has posted a net profit of Rs. 809 Crore for the third quarter of FY 2011-12 (October-December, 2011), an increase of 37% against Rs.591 Crore reported during the corresponding quarter ended December 31, 2010.
Total Income for October-December, 2011 rose to Rs.2576Crore, up 20% from Rs.2145 crore in the year-ago period. For the first nine months of FY 2011-12, the total income and net profit are Rs.7376 crore and Rs.2223 crore respectively.
The Company has declared interim dividend of 8% for the financial year 2011-12 against 5% interim dividend paid in the last financial year.
At present, POWERGRID is operating more than 90,000 ckt. kms. of transmission lines along with 145 Sub-stations with transformation capacity of more than 1,02,000 MVA. With the use of state-of-the-art preventive maintenance techniques, average availability of transmission system during the year 2010-11 was maintained at 99.80%.
The Company commissioned/being commissioned assets about Rs.6285 crore upto December, 2011. The Company maintained the average availability of transmission system at 99.93% and planned to enhance the inter-regional power transmission capacity from 23,800 MW to 28,000 MW by March, 2012.