PGCIL aims Rs 5,400 cr turnover in FY09

New Delhi, Mar 28 | Updated: Mar 30 2008, 04:24am hrs
Countrys largest power transmission utility Power Grid Corp on Friday said it expects to achieve a turnover of Rs 5,400 crore in the next fiscal, an 18% rise over the previous years revenues.

As per a Memorandum of Understanding signed between PGCIL and the power ministry, the company targets to add about 5,500 circuit kms of extra high voltage transmission lines and about 6,300 MVA of transformation capacity.

PGCIL also signed an agreement with the World Bank for a loan of $600 million on Friday, which would be utilised to fund the companys transmission projects during the 11th Five Year Plan period.

The company, which got listed in October last year, had posted a profit after tax of Rs 384.28 crore for the third quarter ended December 31, 2007. Total income stood at Rs 1,193.77 crore for the quarter.