On Thursday, January 8, state-owned Power Grid Corporation of India Ltd announced that it has been awarded the contract as the successful bidder under tariff-based competitive bidding (TBCB) for the establishment of an inter-state transmission system. This project aims to enhance the transmission framework “for the integration of additional RE potential” at Davanagere (0.25 GW) and Bellary (2.75 GW) in Karnataka.
The project is granted on a build, own, operate, and transfer (BOOT) basis, featuring a 400 kV double-circuit transmission line across Karnataka, along with necessary line bay works at both ends. It also includes the upgrade of existing facilities, such as ICTs and line bays at the Davanagere and Bellary pooling stations.
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Today, January 8, Power Grid Corporation of India received the letter of intent (LoI) for the endeavor.
Second Quarter Results
Power Grid Corporation of India reported a 6% decline in year-on-year net profit at ₹3,566 crore, down from ₹3,793 crore in Q2FY25, which fell short of the CNBC-TV18 poll estimate of ₹3,780 crore. Revenue increased by 1.8% YoY to ₹11,476 crore, compared to ₹11,277 crore, slightly exceeding analysts’ anticipated ₹11,431 crore.
EBITDA decreased by 6.1% YoY to ₹9,114 crore, down from ₹9,701 crore, missing the CNBC-TV18 projection of ₹9,958.6 crore. Margins contracted to 79.4%, compared to 86% the previous year and below the 87% expected in analyst forecasts.
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The board of directors has approved an interim dividend of ₹4.50 per equity share of ₹10 each, representing 45% of the paid-up equity share capital for FY26.
On January 8, shares of Power Grid Corporation of India Ltd closed at ₹259.25, down ₹4.85, or 1.84%, on the BSE.
