Power Grid Corporation of India announced that it has been declared as successful bidder for setting up an inter-state transmission system project in Gujarat.
Power Grid Corporation of India has been declared as the successful bidder under tariff based competitive bidding to establish inter-state transmission system for augmentation of transformation capacity at Jam Khambhaliya PS (GIS) on build, own operate and transfer (BOOT) basis, the company stated in the press release.
The project comprises of augmentation of transformation capacity and associated bays extension works at existing substation in the state of Gujarat.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under Ministry of Power, GoI. As of 30 June 2024, the Government of India owned a 51.34% stake in the company.
The company reported 3.52% increase in consolidated net profit to Rs 3,723.92 crore in Q1 FY25 as compared with Rs 3,597.16 crore posted in corresponding quarter last year. Revenue from operations fell marginally to Rs 11,006.18 crore during the quarter as comapred with Rs 11,048.13 crore posted in corresponding quarter last year.
Shares of Power Grid Corporation of India added 0.80% to Rs 340.50 on the BSE.
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