Power Grid Corporation of India said that it has been declared as the successful bidder for establishing an inter-state transmission system for evacuation of power from Neemuch SEZ.
The company's bid has been declared successful under tariff-based competitive bidding (TBCB). The project has been awarded on a build, own, operate and transfer (BOOT) basis.
The letter of intent (LoI) dated 07 July 2022 has been issued to Power Grid Corporation of India.
Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. As of 31 March 2022, the Government of India owned a 51.34% stake in the company.
On a consolidated basis, the company's net profit rose 17.9% to Rs 4,156.44 crore on a 1.7% rise in net sales to Rs 10,686 crore in Q4 FY22 over Q4 FY21.
Shares of Power Grid Corp shed 0.59% to Rs 217.50 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app