Latest News | IndiGrid Profit Doubles to Rs 116.9 Cr in Q4

New Delhi, May 15 (PTI) IndiGrid on Thursday reported a twofold rise in consolidated net profit to Rs 116.9 crore in the March quarter, on account of higher revenues.

It had posted a net profit of Rs 58.4 crore in the year-ago period, the company said in an exchange filing.

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The company increased its income to Rs 920.3 crore from Rs 824.3 crore in the year-ago quarter.

IndiGrid Managing Director Harsh Shah said, "The successful commissioning of six transmission and BESS projects, addition of new greenfield projects, and the launch of EnerGrid showcase our commitment to building next-generation energy infrastructure for a greener, more resilient future."

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On March 31, IndiGrid commissioned Kilokari BESS Pvt Ltd of 20 MW/40 MWh capacity.

IndiGrid is the first Infrastructure Investment Trust (InvIT) in the Indian power sector.

An energy storage system of 20 MW/40 MWh means 20 MW of battery energy can provide power backup for two hours, giving a total output of 40 MW.

The project was awarded to IndiGrid in October 2023 by BSES Rajdhani Power Ltd.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)