Power Grid Corporation has been declared the successful bidder for two major transmission projects under Tariff Based Competitive Bidding, aimed at strengthening India’s energy infrastructure and renewable integration.
The 2 projects, which will enhance the inter-state transmission system, were awarded to Power Grid on December 12, 2024.
The first project involves establishing a transmission system to evacuate power from Kudankulam Units 3 and 4, with a 400kV transmission line connecting the Kudankulam Nuclear Power Plant (KNPP) to Tuticorin-II in Tamil Nadu.
The second project involves system strengthening at Koppal-II and Gadag-II in Karnataka, focusing on the integration of renewable energy generation projects.
This project will enhance the transformation capacity of Power Grid’s under-construction substations at both locations.
Power Grid Corporation of India reported a 1.85% increase in consolidated net profit, reaching ₹3,793.02 crore for Q2 FY25, compared to ₹3,723.92 crore in Q1 FY25.
Revenue from operations rose by 2.46%, totalling ₹11,277.76 crore in Q2 FY25, up from ₹11,006.18 crore in Q1 FY25.
On a year-on-year basis, the company posted a slight increase in net profit compared to ₹3,793.02 crore in Q2 FY24. Revenue also saw a marginal rise of 0.09% YoY in Q2 FY25, from ₹11,267.07 crore in Q2 FY24.
Total expenses grew by 4.76% YoY, reaching ₹7,309.59 crore in Q2 FY25. Employee benefit expenses were ₹620.94 crore, reflecting a 6.71% YoY increase, while finance costs stood at ₹2,441.09 crore, up 4.26% YoY during the period under review.
On December 13, 2024, Power Grid Corporation’s share price traded 0.79% higher at ₹331.80 as of 1:00 PM on the NSE. The stock opened at ₹330.65, slightly higher than the previous close of ₹329.20.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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