Power Grid Corporation Of India Ltd.

PowerGrid Corporation of India (PGCIL), India’s largest power transmission utility, will be entering into a $16-million management contract with Ethiopia Power Company for two years. In the contract period, the company will take up the key positions and manage the Ethiopia Power to make it more efficient. Ethiopia Power Company is an integrated firm with generation and distribution.

The company has reported 39.52% rise in its net profit at Rs 1129.06 crore for the quarter as compared to Rs 809.23 crore for the same quarter in the previous year. Total income from operation of the company has increased by 36.29% at Rs 3361.67 crore for quarter under review as compared to Rs 2466.62 crore for the quarter ended December 31, 2011.

Power Grid is engaged in bulk power transmission and its responsibility include planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.