State-owned company PowerGrid Corporation is planning a capital expenditure of Rs 1,226.93 crore. In an exchange filing, the company stated that its Board of Directors has approved the capex for the refurbishment of the existing Bhadrawati High Voltage Direct Current installation.
The company added that an implementation schedule for the project is 36 months from the date of contract award.
Powergrid project commissioning
In a second exchange filing on Wednesday, Powergrid disclosed that it has commenced the commercial operations on the Western Region Expansion Scheme-XXV project. The company stated that the project was commissioned on November 12.
Earlier this week, the public sector company was also declared the successful bidder to establish the interstate transmission system under the tariff-based competitive bidding. The company said that the project comprises 765 kV D/c transmission lines traversing the states of Odisha & Andhra Pradesh, along with associated line bays and reactor works at both ends.
Powergrid Q2 results
Powergrid posted a 6 per cent YoY profit decline in the second quarter of FY26. The company reported a consolidated net profit of Rs 3,566 crore in the September quarter, compared to Rs 3,793 crore in the same quarter of FY25.
The company’s revenue grew modestly by 2 per cent on a yearly basis in the quarter. Powergrid reported a consolidated revenue of Rs 11,476 crore in Q2 FY26, compared to Rs 11,278 crore.
Powergrid share price
Powergrid’s stock closed at Rs 260.85 on Wednesday, 0.19 per cent higher in the intra-day trade. In the last one month, the company’s stock has declined by 4.64 per cent and 20.91 per cent in the last one year period.