New Delhi: Power Grid Corporation of India Limited (POWERGRID), a 'Navratna' Company under Ministry of Power, Government of India, has posted a consolidated net profit of Rs 2503 Cr for the Q1FY20, an increase of 10% against Rs 2278 Cr reported during the corresponding quarter ended June 30, 2018.
Total Consolidated Income for the first quarter (April-June, 2019), rose to Rs 9362 Cr, up by 12% from Rs 8376 Cr in the corresponding period year ago.
On a standalone basis, POWERGRID had registered a net profit of Rs 2428 Crore on a Total Income of Rs 9228 Crore in the FY 2018-19. POWERGRID's physical assets as on April-June, 2019 include more than 1,58,000 ckm of transmission lines, 246 Sub-stations with transformation capacity of more than 3,75,000 MVA on a consolidated basis.
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With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.77% for Q1FY20.