Power Grid Corporation Of India Ltd.
2.30 (0.89%) PGCIL gets approval to invest Rs 1,962 crore for pooling stations in Chhattisgarh
Date: 02-06-2011Power Grid Corporation of India (PGCIL) has received an approval for investment Rs 1,961.87 crore for establishing pooling stations in Champa and Raigarh for power projects in Chhattisgarh. The company has received an approval at its board meeting held on May 30, 2011.
The firm would be establishing pooling stations at Champa and Raigarh (near Tamnar) for IPP generation projects in Chhattisgarh. The commissioning schedule would be 36 months from the date of investment approval.
The company has posted a net profit after tax of Rs 2696.89 crore for FY11, up by 32.14% as compared to Rs 2040.94 crore in the last year. Total income has increased by 21.27% to Rs 9099.80 crore for the year from Rs 7503.58 crore in previous year.
On consolidated basis, the group has posted a profit after tax of Rs 2671.91 crore for the year ended March 31, 2011 and reported a total income of Rs 9273.61 crore for FY11.