Power Grid Corp Q4 profit up 6% at Rs 1,176 cr

Total income up 18% to Rs 3,986 cr

A state run Power Grid Corporation of India Limited (PowerGrid) has posted a net profit of Rs 1,176 crore for the fourth quarter of FY 2013-14. PowerGrid, which is a Central Transmission Utility, has registered a net profit of Rs 4,497 crore over a turnover of Rs 15,721 crore in the FY 2013-14, registering a growth of about 18% in turnover and 6% in net profit compared to FY 2012-13.

The company proposed a dividend of 13.1% in addition to interim dividend of 12.7% paid for the financial year 2013-14. Power Grid shares ended 2.5% lower at Rs 121.75 on BSE. The results were announced by CMD R N Nayak.

At present, PowerGrid operating about 107,500 ckt kms of transmission lines along with 185 Sub-stations with transformation capacity of more than 206,000 MVA. With the use of state-of-the-art preventive maintenance techniques, average availability of transmission system during the year 2013-14 was maintained at 99.92%.

PowerGrid capitalised assets about Rs 15,904 crore upto March 2014 excluding 765 KV assets of about 1850 crore completed in March, 2014 to be capitalised in April, 2014. Inter-regional power transmission capacity of 6,300 MW was added during FY 14 enhancing the total Inter-regional transmission capacity of National Grid to about 38,550 MW.