MUMBAI: State utility Power Grid Corporation India (PGCIL) plans to raise up to ₹4,000 crore in its third round of fund raising through domestic bonds by September to meet its working capital expenditure.
“For this fiscal year, we have got the approval to raise ₹14,000 crore through bonds. So far we have raised ₹6,000 crore in two tranches in April and July this year. We may raise up to ₹4,000 crore by September,” a company official said.
The company had planned a capital expenditure of ₹1,10,000 crore for 12th Plan (2012-2017) out of which it has already deployed over ₹93,820 crore by June 30, he said. The Navratna company reported 33% growth in standalone net profit at ₹1,801.77 crore for the quarter ended June 30 compared to ₹1,355.64 crore in the year-ago period, helped by higher operational income. Standalone income rose 31% to ₹6,119.86 crore.
This fund raising is a part of the ₹22,550 crore capital expenditure planned by the company for this fiscal.
{{/usCountry}}This fund raising is a part of the ₹22,550 crore capital expenditure planned by the company for this fiscal.
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