Power Grid Corporation of India Limited Profit After Tax crosses Rs.6,000 crore , Sets a new benchmark


Mumbai, 27th May 2016 : 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 (PAT) for the first time.
The company posted a 13.2 per cent jump in standalone net profit at Rs 1,599.05 crore for the March quarter on higher revenues from power transmission business.
The company had reported a net profit of Rs 1,412.48 crore in the January-March of 2014-15, Power Grid Corp Ltd said in a regulatory filing.
The company’s standalone income from transmission business increased to Rs 5,485.89 crore in the quarter under review from Rs 4,426.40 crore in the year-ago period, it said.
Its today income from operations rose to Rs 5,760.07 crore in the fourth quarter of this fiscal compared Rs 4,703.22 crore in the preceding financial year.
Power Grid Corp reported a standalone net profit of Rs 6,026.72 crore in 2015-16 compared to Rs 4,979.17 crore in previous fiscal.
The company’s total standalone income from operations too increased to Rs 20,802.22 in 2015-16 fiscal compared to Rs 17,177.23 crore in the previous financial year.
In a separate filing, the Power Grid Corp informed the Board of Directors of the company at its meeting held on May 26, 2016, has recommended final dividend of Rs 1.51 per share (face value Rs 10 each).
The total dividend (including interim dividend) for the financial year 2015-16 is Rs 2.31 per share (face value Rs 10 each).
During the year, the company has paid an interim dividend of Rs 0.80 per share (face value Rs 10 each) for the year 2015-16.

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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