State utility Power Grid Corporation India (PGCIL) plans to raise up to Rs 4,000 crore in its third round of fund raising through domestic bonds by September to meet its working capital expenditure.
"For this fiscal year, we have got the approval to raise Rs 14,000 crore through bonds. So far we have raised Rs 6,000 crore in two tranches in April and July this year. We may raise up to Rs 4,000 crore by September," a company official said.
The company had planned a capex of Rs 1,10,000 crore for 12th Plan (2012-2017) out of which it has already deployed over Rs 93,820 crore by June 30, he said.
The Navratna company reported 33 per cent growth in standalone net profit at Rs 1,801.77 crore for the quarter ended June 30 compared to Rs 1,355.64 crore in the year-ago period, helped by higher income from operations.
Total standalone income of the public sector undertaking (PSU) also rose 31 per cent to Rs 6,119.86 crore in April-June quarter this fiscal as against Rs 4,689.88 crore during the same quarter last financial year.
This fund raising is a part of the Rs 22,550 crore capital expenditure planned by the company for this fiscal.
Central transmission utility's revenue from transmission business rose to Rs 5,950.88 crore during the June quarter from Rs 4,579.09 crore in the year-ago period.
From consultancy, the company's revenue was also higher at Rs 121.56 crore in April-June 2016-17 as against Rs 89.98 crore in the same quarter last fiscal.
Income from telecom business was at Rs 122.48 crore in the first quarter of 2016-17 compared to Rs 97.68 crore during the corresponding quarter last fiscal.
In the first four months (April-July) of this fiscal, PGCIL has added 2,374 ckm of transmission lines and six substations with aggregate transformation capacity of 10,815 MVA.
Some of the major transmission elements commissioned during the period are 400kV D/C Ranchi-Chandwa, 400kV D/C Chandwa-Gaya, 765kV D/C Varanasi-Kanpur, among others. The substations commissioned during the period are NP Kunta, Bagpat, Chandwa, Saharanpur and Kanpur.
With this, POWERGRID's physical assets as on July 31, include more than 131,700 ckm, 213 substations with transformation capacity of more than 265,500 MVA.
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