POWER GRID CORPORATION = Q2 FY 2011 (SEP 2010) RESULTS = SALES IMPROVING = EPS STAGNANT

Power Grid Corporation of India Limited

NSE Symbol   POWERGRID

POWER GRID CORPORATION is gradually improving its performance.

In Q2 FY11, Net Sales has gone up to Rs.2126.63 Cr -  up by 6.38% from previous Qtr and by 31.03% from corresponding Qtr.

Net Profit is Rs.651.40 Cr – down by 7.36% from previous Qtr but up by 19.17% from corresponding Qtr.

Basic EPS is stagnant at Rs.1.55 compared to Rs.1.67 in previous Qtr and Rs.1.3 in corresponding Qtr. While sales are moving up, it is not translating into higher EPS. The interest burden also is rising QOQ reducing the profits.

RESULTS IN NUMBERS :

POWER GRID	30-Sep-10	30-Jun-10	DIF% 1	30-Jun-09	DIF% 2
Net Sales	212663	199912	6.38	162303	31.03
Employees Cost	19282	19985	-3.52	19599	-1.62
Depreciation	54560	50239	8.6	46701	16.83
Other Expenditure	15155	13006	16.52	9571	58.34
Total Expenditure	88997	83230	6.93	75871	17.3
Profit from Operations	123666	116682	5.99	86432	43.08
Other Income	9634	15057	-36.02	19929	-51.66
Interest	40166	39183	2.51	38338	4.77
Profit before tax	93134	92556	0.62	68023	36.92
Tax expense	27994	22238	25.88	13362	109.5
Net Profit after tax	65140	70318	-7.36	54661	19.17
Net Profit	65140	70318	-7.36	54661	19.17
Face Value.Rs	10	10	0	10	0
Paid Up Equity	420884	420884	0	420884	0
Basic EPS	1.55	1.67	-7.19	1.3	19.23
Public holding (%)	13.64	13.64	0	13.64	0

ANNOUNCEMENTS

TO THE EXCHANGE

20-10-2010        Power Grid Corporation of India Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 212663 lacs for quarter ending on 30-SEP-2010 against Rs. 174855 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 65140 lacs for the quarter ending on 30-SEP-2010 against Rs. 45997 lacs for the quarter ending on 30-SEP-2009. -

07-10-2010        Power Grid Corporation Of India Limited has informed the Exchange that the Central Government through Ministry of Power in exercise of the power conferred by sub-section (3) of Section 26 and sub-section (2) of Section 27 of the Electricity Act, 2003, by notification dated September 27, 2010 in the Gazette of India, has notified that the Power System Operation Corporation Limited, a wholly owned subsidiary of the Power Grid Corporation of India Limited (a Government Company) shall operate National Load Despatch Centre and the five Regional Load Despatch Centres, with effect from October 01, 2010.   -

14-09-2010        Power Grid Corporation Of India Limited has submitted to the Exchange a copy of Postal Ballot Notice in accordance with the provisions of Section 192A of the Companies Act, 1956 read with the companies (Passing of Resolution by Postal Ballot) Rules, 2001, for the following resolution : Issuance of shares under Follow on Public Offer (FPO) by the Power Grid- of 84,17,68,246 equity shares of face value of Rs.10 each constituting 20% of existing paid up capital comprising- a) Fresh issue of 420,884,123 equity shares (10% of existing paid up capital) and b) Offer for sale (Disinvestment) of 420,884,123 equity shares (10% of existing paid up capital) by selling shareholder i.e. President of India.

06-08-2010        Power Grid Corporation of India Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 183716 lacs for quarter ending on 30-JUN-2010 against Rs. 162303 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 70318 lacs for the quarter ending on 30-JUN-2010 against Rs. 54661 lacs for the quarter ending on 30-JUN-2009. -

02-07-2010        Power Grid Corporation Of India Limited has informed the Exchange that the Board of Directors of POWERGRID during their meeting held on July 02, 2010 have approved the Follow on Public Offer (FPO) of 20% of existing paid up share capital comprising fresh issue of 10% of existing paid up share capital and Offer for Sale (Disinvestment) of 10% of existing paid up share capital by Government of India subject to approval of the Cabinet Committee on Economic Affairs (CCEA).

26-05-2010        Power Grid Corporation Of India Limited has informed the Exchange that the Board of Directors during their meeting held on May 25, 2010, have approved the following investment approval for "Transmission System for Transfer of Power from Generation Projects in Sikkim to NR/WR-Part A" at an estimated cost of Rs. 250.03 Crore, with commissioning schedule of within 32 months from the date of investment approval.

26-05-2010        Power Grid Corporation Of India Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 25, 2010 have approved the following: (1) Final Dividend declared - 10% of Share Capital i.e., Re. 1.00 per share of Rs. 10/- each. This is in addition to interim dividend of 5% of Share Capital i.e. Re. 0.50 per share.       

25-05-2010        Power Grid Corporation of India Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 712745 lacs for year ending on 31-MAR-2010 against Rs. 667585 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 204094 lacs for the year ending on 31-MAR-2010 against Rs. 169061 lacs for the year ending on 31-MAR-2009.     -

04-05-2010        Power Grid Corporation Of India Limited has informed the Exchange that the proposed resolution is circulated for approval of the members of the company to be accorded by Postal Ballot in accordance with the provisions of Section 192A of the Companies Act, 1956 read with the companies (Passing of Resolution by Postal Ballot) Rules, 2001, The following is the resolution : Transfer of movable assets of regional load despatch centres (RLDCs) & National Load despatch centre (NLDC) to power system operation corporation limited (Book Value of Rs. 184.78 crore as on March 31, 2009).

19-04-2010        Power Grid Corporation Of India Limited has informed the Exchange that "The Board of Directors of POWERGRID during their meeting held on 15.04.2010 have approved the Investment approval for "Transmission System for Development of Pooling Station in Northern Part of West Bengal and Transfer of Power from Bhutan to NR/WR" at an estimated cost of Rs.4,404.57 Crore, with commissioning schedule of 57 months tentatively from the date of investment approval, subject to CERC concurrence such that additional Return on Equity @ 0.5% is admissible".

01-04-2010        Power Grid Corporation Of India Limited has informed the Exchange that the following resolution is circulated for approval of the members of the company to be accorded by Postal Ballot in accordance with the provision of Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001: Enhancement of borrowing limits from Rs. 50,000 crore to 80,000 crore.

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