POWERGRID’s Profit After Tax crosses Rs.6,000 crore
New Delhi, May 27 : 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.6,027 crore over a turnover of Rs. 21,281 crore for FY 2015-16, registering a growth of about 20% in Turnover and 21% in Net Profit compared to FY 2014-15, on a standalone basis. The Company surpassed Rs.6,000 crore Profit After Tax for the first time.
For the fourth quarter of FY2015-16, the Company has posted a net profit of Rs. 1,599 crore, a growth of 13% with respect to corresponding period of FY 2014-15.
The Company has proposed a final dividend of 15.1% in addition to interim dividend of 8.0% (already paid) for the financial year 2015-16.
At present, POWERGRID is operating about 129,600 ckt. kms. of transmission lines along with 208 Sub-stations with transformation capacity of more than 255,000 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%.
The Company capitalized assets about Rs.31,800 crore during FY2015-16, which was highest ever in a year; and incurred a capital expenditure to the tune of ~ Rs.22,580 crore during the period.