Power Grid Wins Key Inter-State Transmission Project

24 Sep 2024 , 05:42 PM

Power Grid Corporation of India Ltd (POWERGRID) announced on September 23, 2024, that it has won a key inter-state transmission project through tariff-based competitive bidding (TBCB).

The project will involve installing dynamic reactive compensation systems (STATCOMs) at two locations: Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) in Gujarat. The project also includes the extension of associated bays.

The project was awarded under a build, own, operate, and transfer (BOOT) model, with POWERGRID receiving the Letter of Intent (LoI) on September 23, 2024.

POWERGRID reported a 3.7% year-on-year (YoY) decline in net profit for Q1 FY25, amounting to ₹3,412.2 Crore, compared to ₹3,542 Crore in the same period last year. Market expectations had predicted a profit of ₹3,856 Crore for the quarter.

Revenue from operations decreased by 1.7% YoY to ₹10,068.1 Crore, compared to ₹10,244.6 Crore in Q1 FY24. EBITDA for the quarter dipped by 2.9% to ₹8,744.1 Crore from ₹9,099 Crore in Q1 FY24. The market had forecasted an EBITDA of ₹9,743.2 Crore. The EBITDA margin for the quarter was 86.9%, slightly lower than the previous year’s 87.9%.