PowerGrid Q1 profit dips 2.5 pc to Rs 3 631 cr

    New Delhi, Jul 30 (PTI) State-owned Power Grid Corporation on Wednesday reported 2.5 per cent dip in consolidated net profit at Rs 3,630.58 crore for June quarter 2025-26 due to higher expenses.
     The company reported a profit of Rs 3,723.92 crore in the year-ago period, a BSE filing said.
     However, total income rose to Rs 11,444.42 crore from Rs 11,279.59 crore. Total expenses too increased to Rs 7,114.23 crore from Rs 6,643.07 crore a year ago.
     The board approved enhancement of borrowing limit from Rs 16,000 crore to Rs 25,000 crore, from various sources including issuance of non-convertible debentures under private placement for 2025-26.
     It also approved a proposal to raise up to Rs 30,000 crore, from various sources including domestic bonds during 2026-27 in one or more tranches / offers.
     The board gave in-principle approval for participation of PowerGrid in up to two TBCB (tariff based competitive bidding) projects with an aggregate total estimated project cost of Rs 500 crore through consortium of PowerGrid and POWERGRID Infrastructure Investment Trust (PGInvIT).
     In-principle approval was also granted for sale of entire stake of PowerGrid from Parbati Koldam Transmission Company, a joint venture between PowerGrid and India Grid Trust.
     The board gave in-principle approval for formation of joint ventures in India and Nepal between PowerGrid and Nepal Electricity Authority (NEA) for transmission interconnections between the two countries.
     It also approved winding up of RINL POWERGRID TLT Private Ltd, a joint venture between PowerGrid and Rashtriya Ispat Nigam Ltd, from the records of the Registrar of Companies, Ministry of Corporate Affairs, subject to requisite approvals.
     In a separate statement, the company said it incurred a capital expenditure of Rs 6,981 crore on consolidated basis till Q1FY26.
     Gross fixed assets on consolidated basis stood at Rs 2,92,446 crore (including gross lease receivables) as on June 30, 2025.
     At the end of Q1FY26, the total transmission assets of the company and its subsidiaries stood at 1,80,533 circuit kilometer (ckm) of transmission lines, 284 substations strategically located across the country and 5,66,831 MVA (mega volt ampere) of transformation capacity.
     It maintained average transmission system availability of 99.84 per cent for Q1FY26.

(This story has not been edited by THE WEEK and is auto-generated from PTI)