PowerGrid Q1 up 20% at Rs 1,367 cr

Total income surges to Rs 4,788 cr in the quarter under review

Central transmission utility PowerGrid Corporation of India's net rose by 20% to Rs 1,367 crore for the first quarter ended June 30 against Rs 1,137 crore during the corresponding quarter ended previous year.

Total income rose to Rs 4,788 crore from Rs 4,075 crore in the corresponding year ago period, up 17%.

The company's debt rose to Rs 99,412 crore from Rs 84,685 crore due to number of transmission projects under various stages of implementation. 

However, company's net worth increased by 11% to Rs 39,404 crore from Rs 35,526 crore. PowerGrid's share on BSE closed at Rs 137.65, down 0.33%.

During the current fiscal the company has proposed capex of Rs 22,450 crore of which as on date it has invested Rs 7,000 crore.

At present, PowerGrid Corporation is operating more than 1,17,600 circuit km of transmission lines along with 197 sub stations and transformation capacity of about 2,39,000 MVA. The average availability during the quarter was at 99.79%.