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Power Grid reports Rs. 870 crore profit during first quarter[25 July 2012]

State-owned central transmission utility (CTU) Power  Grid  Corporation  of  India (PGCIL) has reported a net profit of  Rs. 870 crore for the first  quarter  of  FY  2012-13, against Rs. 705  crore reported  during  the corresponding quarter ended June 30, 2011.
According to a statement released by PGCIL, “Profit in the current quarter has increased by 23 per cent as against 0.28 per cent increase in the corresponding quarter of the previous year. Total  income for  the first  quarter rose to  Rs. 2980 crore, up by 27 per cent from Rs. 2341 crore in the corresponding quarter of previous year.
PGCIL posted a net profit of  Rs. 3255 crore on a turnover of Rs. 10,785 crore in the FY 2011-12, registering  a growth of about 19 per cent in turnover and 21 per cent in net profit compared to FY 2010-11 and the company has declared a total dividend of 21.1 per cent.
At present, PGCIL is operating more than 95,000 ckt. kms. of transmission lines along with 155 sub-stations with transformation capacity of about 136,400 MVA. The existing inter¬regional power transmission  capacity is about 28,000MW and the average availability during the quarter is maintained at 99.92 per cent.
“After successfully meeting its CAPEX target of  Rs. 55,000 crore for 11th Five Year Plan, PGCIL has now planned Rs. 100,000 crore capital expenditure in 12th Five Year Plan,” informed RN Nayak, Chairman & Managing Director of PGCIL. “We have a  CAPEX  plan of Rs. 20,000 crore  for the current financial year.”

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