Power Grid Corporation of India on Friday announced that its wholly owned subsidiary, Powergrid Bhind Guna Transmission has commissioned a transmission project in Madhya Pradesh.
In an exchange filing, the company said that Powergrid Bhind Guna Transmission, (a wholly owned subsidiary of Power Grid Corporation of India, secured through tariff based competitive bidding) with a mandate to establish transmission system for intra-state transmission work associated with construction of 400kV substation near Guna (Madhya Pradesh) & 220kV substation near Bhind (Madhya Pradesh) on build, own, operate and maintain (BOOM) basis has successfully commissioned the project on 6 October 2022.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 30 June 2022, the Government of India owned a 51.34% stake in the company.
On consolidated basis, Power Grid Corporation of India's net profit tumbled 36.6% to Rs 3,801.19 crore in Q1 FY23 as against Rs 5,998.28 crore recorded in Q1 FY22.
Shares of Power Grid Corporation of India rose 1.45% to settle at Rs 209.30 on Friday, 7 October 2022.
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