Power Grid Corporation Of India Ltd.

State-owned power utility, PowerGrid Corporation of India has received its board approval for an investment of Rs 7,209.65 crore in different projects. The company’s board has approved an investment of Rs 1,310.85 crore for system strengthening in Wardha in Aurangabad corridor while, an investment of Rs 3,201.44 crore has been approved for transmission system for phase - I generation projects in Jharkhand and West Bengal.

The board has also approved an investment of Rs 1,927.16 crore for transmission system associated with Krishnapatnam UMPP - Part B, Rs 324.33 crore for Krishnapatnam UMPP - Part C1 and Rs 97.36 crore for transmission system for connectivity of Thermal Powertech Corporation India.

Further, the board has approved implementation of Enterprise Resource Planning (ERP) at Powergrid at an estimated cost of Rs 130.44 crore and establishment of fibre optic communication system in western region under master communication plan at an estimated cost of Rs 218.07 crore.

The transmission utility firm posted a growth of 36.88% in its net profit of Rs 809.23 crore for the quarter ended December 31, 2011 as compared to Rs 591.19 crore for the same quarter in the previous year. Total income surged by 20.09% from Rs 2145.23 crore for Q3FY11 to Rs 2576.20 crore in the quarter under review.