Power Grid Corporation of India Limited has reported a modest 11 per cent increase in net profit for the financial year 1996-97.
The public sector utilitys turnover for the year stood at Rs 1058 crore, a seven per cent increase over the previous years figure.
This is far lower than the corresponding figures for the previous year. In 1995-96, PowerGrid had recorded a year-on-year increase of 32 per cent in net profit and 22 per cent in turnover.
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It has paid out a dividend of Rs 20 crore for 1996-97 to the Central government.
On the positive side, PowerGrid was able to collect 100 per cent receivable from the state electricity boards and stick to its budgetary allocation of Rs 1500 crore.
However, it exceeded its external assistance utilisation target for 1996-97 by utilising Rs 337 crore against the targeted Rs 321 crore.
On the technical front, PowerGrid fared much better by having an availability of 99.48 per cent. Of the 2653 kms of transmission lines constructed during the year, 609 kms were commissioned.
PowerGrids capital expenditure during the financial year was to the tune of Rs 1543 crore. During the year PowerGrids paid-up capital increased by Rs 28 crore to Rs 3020 crore.