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Powergrid FY14 Profit Rises 6% at Rs 4497 Crore

Monday, June 02, 2014
By A Business Reporter

Power Grid Corporation of India Limited (POWERGRID), a ‘Navratna’ Company and the ‘Central Transmission Utility (CTU)’ of the country, has posted a net profit of Rs. 1,176 crore for the fourth quarter of FY 2013-14. PowerGrid had registered a net profit of Rs. 4,497 crore over a turnover of Rs. 15721 crore in the FY 2013-14, registering a growth of about 18% in Turnover and 6% in Net Profit compared to FY 2012-13.

"We have seen substantial increase in income from our consultancy services with sound growth in transmission income," said R N Nayak, Chairman and Managing Director, Power Grid Corporation. The company, which has a total debt of around Rs 80,000 crore by the end of FY14, said that it would invest around Rs 22,450 crore in the current financial year. "We will raise around Rs 11,000 to Rs 12,000 crore of debt, out of which majority will be raised in domestic market, he added.

The State-run electricity transmission firm has proposed a final dividend of 13.1% in addition to interim dividend of 12.7% paid for the financial year 2013-14. At present, PowerGrid is 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%.

The Company capitalized assets about Rs.15,904 crore upto March 2014 excluding 765 KV assets of about 1850 crore completed in March, 2014 to be capitalized 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.

On the outlook, Nayak said the company is well placed to grow further in the current financial year given its sound financial profile and healthy order book.

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