POWERGRID Q1 Net profit rises 33% to Rs.1,819 crore Total Income grows by 31% to Rs.6,259 crore
Mumbai, 17.08.2016
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. 1,819 crore for the first quarter of FY 2016-17 (April-June, 2016), an increase of 33% against Rs.1,343 crore reported during the corresponding quarter ended June 30, 2015.
Total Income (Turnover) for first quarter (April-June, 2016), rose to Rs. 6,259 crore, up by 31% from Rs. 4,793 crore in the corresponding year-ago period.
On a standalone basis, POWERGRID had registered a net profit of Rs. 6,027 crore on a turnover of Rs.21,281 crore in the FY 2015-16.
In the first four months (Apr16-Jul16) of the current financial year i.e. 2016-17, POWERGRID has added 2,374 ckm of transmission lines and six substations with aggregate transformation capacity of 10,815 MVA. Some of the major transmission elements commissioned during the period Apr’16-Jul’16 are 400kV D/C Ranchi-Chandwa, 400kV D/C Chandwa-Gaya, 765kV D/C Varanasi-Kanpur, 765kV S/C Kanpur-Jhatikara, 400kV D/C Panchkula-Patiala, 400kV D/C Roorkee-Saharanpur and LILOs of Pune-Aurangabad transmission line at Pune, Dehar-Bhiwani transmission line at Rajpura, Baripada-Dubri-Mendhasal transmission line at Pandiabil and Cuddapah-Kolar transmission line at NP Kunta. The substations commissioned during the period are NP Kunta, Bagpat, Chandwa, Saharanpur and Kanpur.
During the period, POWERGRID also commissioned ER-NR Inter-Regional 765kV S/C Gaya-Varanasi transmission line thereby increasing the inter-regional power transfer capacity of National Grid by 2,100MW.
With this, POWERGRID ‘s physical assets as on 31st July, 2016 include more than 131,700 ckm, 213 substations with transformation capacity of more than 265,500 MVA.
With the use of state-of-the-art maintenance techniques, average Availability of transmission system during the year 2015-16 was maintained at 99.72% and during the current year, the same has been maintained at 99.78% for the first quarter of the financial year.
Further advancements were made in terms of technology and in the first quarter of FY2016-17, power flow commenced through POWERGRID’s 1200kV National Test Station at Bina, MP. On the asset management side, the Company deployed Unmanned Aerial Vehicles (UAVs/ Drones), for the first time.
POWERGRID recently participated in the International Industrial Trade Fair, INNOPROM 2016 organised at Russia, in July 2016 and its pavilion at the trade fair was adjudged as the ‘Best PSU Pavilion’.
For the first time, POWERGRID has been recognised has ‘One of India’s Best Companies to Work For’ 2016 by ‘The Great Place to Work@ Institute’, in partnership with The Economic Times, after covering almost 800 plus organisations in India.
