Power Grid Corporation – Results Electrified

Power Grid Corporation’s revenue for the year was up 23.9% to INR 46,148 mn over FY07. While revenue from Transmission grew by 29% to 41,885 mn, Telecom revenue was up 60% to INR 1,235 mn. The company saw a steady increase of 10% in its Consultancy segment.

Net profit for the year was up 50% to INR 16,528 from INR 10,975 mn last year. In the current year, the company has commissioned projects worth INR 60,185 mn in the transmission space on which it has started to receive returns. Other income for the year was up 30% at INR 4,667 mn.

The company had its IPO in FY08 and has ~INR 8,800 mn of cash left from the issue. The company also saw increase in Open access charges by 36% to INR 527 mn. Also in FY08, the Telecom segment of the company has become PBIT positive. The company plans to invest close to INR 85,000 mn in FY09 for various transmission projects. On the Telecom front, the company intends to increase its revenues to ~50,00 mn by FY10