Power Grid Corporation Of India Ltd.

Power Grid Corporation of India would be raising at least Rs 1,000 crore via bonds. The bonds, with 16 years maturity, will be issued in separately tradable principal parts starting from the fourth year. Meanwhile, the issue of such bond is likely to open, a day after the Reserve Bank of India's monetary policy meeting, i.e., on June 19, 2012.

Recently, the company received nod for five investment proposals worth Rs 3,487.91 crore. The first investment approval was for common system associated with East Coast Energy and NCC Power Projects LTOA Generation Projects at an estimated cost of Rs 1,909.24 crore. The second approval  for system strengthening - XVIII in Southern Regional Grid at an estimated cost of Rs 1,263.26 crore, the third for Fibre Optic Communication System for Central Sector Sub-stations & Generating Stations at an estimated cost of Rs 174.16 crore.

While, the other two were for Line Bays and Reactor at Power Grid sub-station for Raichur - Sholapur Transmission Line and augmentation of Transformer and Bays in Western Region at an estimated cost of Rs 75.74 crore and Rs 65.51 crore respectively. 

On standalone basis, the company has posted a rise of 37.35% in its net profit at Rs 1031.69 crore for the quarter ended March 31, 2012 as compared to Rs 751.12 crore for the same quarter in the previous year. Total income has increased by 32.08% at Rs 3408.78 crore for quarter under review as compared to Rs 2580.86 crore for the quarter ended March 31, 2011.

For the full year ended March 31, 2012, the company has posted a rise of 20.70% in its net profit at Rs 3254.95 crore as compared to Rs 2696.89 crore in the previous year. Total income has increased by 18.53% at Rs 10785.01 crore for year under review as compared to Rs 9098.75 crore for the period ended March 31, 2011.