Power Grid Corporation of India (PGC) reported a 37 per cent growth in its net profit at Rs.1,032 crore for the fourth quarter ended March 31, 2012, on a 32 per cent higher turnover of Rs.3,409 crore.

The board has recommended a final dividend of Rs.1.31 per share of Rs.10 each. Earlier, it had declared an interim dividend of 80 paise per share in February.

In 2011-12, the company reported a 21 per cent growth in its net profit at Rs.3,255 crore on a 19 per cent higher turnover of Rs.10,785 crore.

Addressing a press conference here on Wednesday, R. N. Nayak, Chairman, said the company had a capital expenditure plan of Rs.20,000 crore for 2012-13 and Rs.1,00,000 crore for the XII Plan. “The capital expenditure will be towards pure transmission jobs with a debt component of 70-75 per cent.''

“Our model for debt is to go in for least cost and longest tenure for loans,'' said R. T. Agarwal, Director, Finance.

The government has about 70 per cent holding in PGC.

Mr. Nayak said the company was looking at opportunities in inter-state transmission system, smart grid, asset management and EPC (engineering, procurement and construction).

On telecommunications, he said the company had a 25,000-km network providing backbone connectivity to all metros, major cities and towns. It entered into infrastructure sharing agreement with a telecom infrastructure service provider for mounting telecom antennas in Punjab, Jammu & Kashmir and Himachal Pradesh. “We offered 800 towers for installation but we will pursue it vigorously once the situation improves as it is not conducive in the telecom industry to get a better price.''

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