PowerGrid Q1 FY 2019-20 results

PowerGrid Q1 consolidated net profit rises to Rs 2503 crore

Total consolidated income grows
by 12% to Rs 9362 crore

Thesynergyonline Energy Bureau

NEW DELHI, AUGUST 02 : Power Grid Corporation of India Limited (PowerGrid) 'Navratna' Company under Ministry of Power, the Government of India, has posted a consolidated net profit of Rs 2503 crore for the first quarter of FY 2019-20 (April-June, 2019), an increase of10 per cent against Rs 278 crore reported in the corresponding quarter ended June 30, 2018.

The total Consolidated income for first quarter (April-June, 2019), rose to Rs 9362 crore, up by 12 per cent from Rs 376 crore in the corresponding period year ago.

On a standalone basis, PowerGrid had registered a net profit of Rs 428 crore on a total Income of Rs 9228 crore in the FY 2018-19.

The company's physical assets as on April-June, 2019 include more than 1,58,000ckm of transmission lines, 246 Sub-stations with transformation capacity of more than 3,75,000MVA on a consolidated basis.

With the use of state-of-the-art maintenance techniques, automation and digitization, PowerGrid maintainedaverage transmission system availability of 99.77 per cent for Q1FY20.