11:44 pm - Wednesday April 24, 2024

Power Grid to raise Rs.1,500 crore

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Power Grid Corporation of India will raise Rs.1,500 crore through bonds to meet the capital expenditure plans for this year, its Chairman and Managing Director R. N. Nayak said. “For this financial year, we have capital expenditure plan of Rs.22,000 crore, out of which Rs.17,700 crore has already been spent. We need another Rs.1,500 crore to meet our capital expenditure programme, and we will raise this amount by issuing bonds,” he said. Meanwhile, the company for the third quarter ended December 31, 2014, has reported 18 per cent rise in net profit at Rs.1,229 crore. Total income for the quarter also increased by 18 per cent to Rs.4,486 crore.

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