Power Grid Corporation of India (PGCIL) said on Thursday that the net profit for the quarter ended September 30 stood at Rs 2,141 crore, a rise in 14.4% from the same period a year ago. The company’s revenue increased by 16% to Rs 7,252.8 crore in the period. Earnings before interest taxes, depreciation and amortisation (EBITDA) was up by 16.7% to Rs 6,795.7 crore in the quarter. Profit from the transmission segment, the main business area of the state-owned company, grew 15.2% to Rs 4,234.5 crore. Transmission revenue increased 16% to Rs 7,063.4 crore. With total inter-regional power transfer capacity of 75,050 MW, the company’s transmission networks wheel about 45% of the total power generated in the country. PGCIL’s profit from its consultancy business dipped by around 25% to Rs 115.9 crore, a reversal from the past few quarters when the company’s profit in this segment had registered growth. The transmission major provides consultancy services to state-owned utilities, private utilities, CPSUs and government departments.
It has around 175 clients in the power sector. Total expenses in the quarter went up by 18.6% to Rs 4,880 crore while finance costs rose 17.6% to Rs 1,867.3 crore. As on September 30, 2017, the company had 142,989 circuit km of transmission lines under its aegis. Apart from power transmission, the company also engaged in consultancy and telecom businesses. The company owns and operates 43,450 km of telecom network. Out of 37 transmission projects awarded through the tariff-based competitive bidding route since 2011, PGCIL has won 10 projects worth around Rs 18,000 crore.