Power Grid Corp is expecting a capex target of Rs 25,000 crore for fiscal year 2017-18, after it posted a stable set of earnings for the third quarter of FY17.
Chairman and Managing Director I S Jha told CNBC-TV18 in an interview, that the company had capitalised Rs 6,800 crore in Q3FY17 and has infused Rs 4,700 crore in Q4FY17 so far. The company has achieved Rs 18,200 crore of total capex target of Rs 23,500 crore for FY17, he said.
State-run Power Grid Corp on Thursday posted a 20 percent jump in standalone net profit at Rs 1,930.02 crore for the third quarter ended December 2016, on the back of higher income. "The company has posted a net profit of Rs 1,930.02 crore for the quarter ended December 31, 2016 as compared to Rs 1,606.25 crore for the quarter ended December 31, 2015," Power Grid Corp said in a BSE filing. Total income has increased from Rs 5,476.37 crore in the year-ago period to Rs 6,787.51 crore in Q3FY17.
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