PowerGrid quarterly profit rises 33% to Rs 1,819 crore
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 1,819 crore for the first quarter of FY 2016-17 (April-June, 2016), an increase of 33 per cent against Rs1,343 crore reported during the corresponding quarter ended June 30, 2015.
Total Income (Turnover) for first quarter (April-June, 2016), rose to Rs 6,259 crore, up by 31 per cent from Rs 4,793 crore in the corresponding year-ago period. On a standalone basis, PowerGrid had registered a net profit of Rs 6,027 crore on a turnover of Rs 21,281 crore in the fiscal 2015-16.
In the first four months (Apr16-Jul16) of the current financial year ie. 2016-17, PowerGrid has added 2,374 ckm of transmission lines and six substations with aggregate transformation capacity of 10,815 mva. Some of the major transmission elements commissioned during the period April16-July16 are 400kv d/c Ranchi-Chandwa, 400kv d/c Chandwa-Gaya, 765kv d/c Varanasi-Kanpur, 765kv s/c Kanpur-Jhatikara, 400kv d/c Panchkula-Patiala, 400kv d/c Roorkee-Saharanpur and LILOs of Pune-Aurangabad transmission line at Pune, Dehar-Bhiwani transmission line at Rajpura, Baripada-Dubri-Mendhasal transmission line at Pandiabil and Cuddapah-Kolar transmission line at NP Kunta. The substations commissioned during the period are NP Kunta, Bagpat, Chandwa, Saharanpur and Kanpur.
During the period, PowerGrid also commissioned ER-NR Inter-Regional 765kv s/c Gaya-Varanasi transmission line thereby increasing the inter-regional power transfer capacity of National Grid by 2,100 mw. With this, PowerGrid's physical assets as on 31st July, 2016 include more than 131,700 ckm, 213 substations with transformation capacity of more than 265,500 mva.
With the use of state-of-the-art maintenance techniques, average availability of transmission system during the year 2015-16 was maintained at 99.72 per cent and during the current year, the same has been maintained at 99.78 per cent for the first quarter of the financial year. Further advancements were made in terms of technology and in the first quarter of FY2016-17, power flow commenced through PowerGrid’s 1200kv National Test Station at Bina, Madhya Pradesh.