The project involves setting up a new 765 kV sub-station at PRAISaGraj in Uttar Pradesh, along with 765 kV transmission lines traversing both Uttar Pradesh and Madhya Pradesh.
The scheme aims to strengthen the inter-regional transmission system and ease loading on the existing Vindhyachal–Varanasi line.Despite the award, shares of Power Grid were trading 0.64 percent lower at
₹286.50 on the NSE in afternoon trade.
Investors remain cautious following the company’s June quarter results announced last month, which fell short of Street estimates.
Net profit for the quarter rose 7.1% year-on-year to ₹3,653 crore, but lagged the CNBC-TV18 poll estimate of ₹3,784 crore. Revenue came in at ₹9,928 crore, down 1.4% from last year and below expectations of ₹11,147 crore.
EBITDA slipped 7.2% to ₹8,117 crore, while margins narrowed to 81.76% from 86.85% a year ago.
Within segments, transmission revenue remained largely flat at ₹10,695 crore, consultancy revenue more than doubled to ₹405.9 crore, and telecom revenue climbed 18% to ₹289.5 crore.
