Areva T&D India has received an approval for the final scheme for demerger of the distribution business of the company, to its wholly owned subsidiary - Smartgrid Automation Distribution and switchgear. The company has received an approval for demerger at its board meeting held on May 28, 2011.
The company’s net profit from ordinary activities after tax for the first quarter has zoomed by 729.39% at Rs 28.78 crore as compared to Rs 3.47 crore for the corresponding quarter last year. Its total income has increased by 28.07% at Rs 994.91 crore for the quarter under review from Rs 776.84 crore in the corresponding previous quarter.
Recently, Areva T&D India had been awarded eBOP (electrical Balance of Plant) contract by L&T Power for Visa Power. The value of the contract was worth approximately Rs 120 crore, was for supply and installation of electrical Balance of Plant solutions for the upcoming 2x600 MW super thermal power plants at Raigarh, Chhattisgarh.
Areva T&D India is a leading player in the Power Transmission and Distribution business upto Extra High Voltage levels (765 kV) and is prepared to meet the demands for equipments and services even at Ultra High Voltage levels (1200 kV).