Power Grid Corporation Of India Ltd.

Power Grid Corporation of India (PGCIL) has mopped up about Rs 4000 crore through bonds issue in the domestic market at a coupon rate of 9.30 percent per annum. The tenure of the bonds is 15 years with maturities starting from the end of fourth year.

The proceed from the issue will be used to part finance the company’s capital expenditure of Rs 20,000 crore targeted for the current fiscal.

The state-run transmission utility has planned Rs 1,00,000 crore capital expenditure in the current Five-Year Plan (2012-17).

The company 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 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.