Power Grid Corp profit zooms 57% in Jul-Sep
The company had reported a net profit of Rs 709 crore during the corresponding quarter ended September 30, 2011
State-run Power Grid Corporation has posted a whopping 59% jump in net profit at Rs 1,126 crore for the second quarter ended September 30, 2012.
The company had reported a net profit of Rs 709 crore during the corresponding quarter ended September 30, 2011, an official release said.
Total income of the company rose to Rs 3,243 crore in July-September, 2012, up 32% from Rs 2,459 in the corresponding quarter of previous year.
At present, the company is operating more than 96,216 circuit km of transmission lines along with 158 Sub-stations with transformation capacity of about 1,51,303 MVA (mega volt ampere).
The existing Inter-Regional power transmission capacity is about 28,000 MW and the average system availability is maintained at above 99%.
The company has a capex plan of Rs 20,000 crore for the current financial year.
The country suffered its worst power crisis ever, during this quarter (July-September), as three grids -- northern, eastern and north-eastern -- collaped on July 31. This failure left half of the country's 1.2 billion population powerless for hours.
Shares of the company were trading at Rs 116.65 apiece, up 2.28% on the BSE.