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<p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Electricity transmission utility Power Grid Corp, which today reported a drop in net profit at INR 1,042 crore in the third quarter ended December 31, expects Southern Grid operations to start in second half of 2014. &quot;The Southern Grid has been recently integrated with the National Grid. A lot of experimenting has been done and currently trials are being carried out and we are also studying on how to make it a stable link.</span></span></span><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial"> &quot;We expect the study to complete by June-July and the operations to start in full swing thereafter,&quot; Power Grid Chairman and Managing Director R N Nayak told reporters here.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">The Raichur-Solapur 765KV single circuit transmission line (between Maharashtra &amp; Karnataka) has been interconnected with the National Grid, thereby achieving the one nation - one grid - one frequency system, he said. The Central PSU incurred a cost of INR 815 crore for setting up the system.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Currently, the inter-regional transmission capacity between the west and south is 1,500 MW. With the construction of transmission lines between Maharashtra and Karnataka, the capacity is expected to increase to 5,000 MW. The company had posted a net profit of INR 1,129 crore in the corresponding quarter of the last financial year, Power Grid said in a stock exchange filing.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">The state-run firm&#39;s total income from operations rose to INR 3,684.55 crore in the December quarter from INR 3,368.93 crore in the year-ago period. The company&#39;s finance cost, including borrowings, increased to INR 787.35 crore from INR 684.82 crore in the corresponding period of last fiscal. Other operating income declined to INR 1.26 crore from INR 7.86 crore a year ago.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">It has spent INR 1,500 crore from over INR 5,321 crore it raised through FPO last year for funding 27 projects. &quot;We have already spent INR 1,500 crore and have started work on a few projects. We will spend another INR 600 crore in the coming weeks,&quot; Nayak said.</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">The firm will invest INR 374.63 crore for establishing a Unified Real Time Dynamic State Measurement Project. On fund raising plans, Nayak said, &quot;our capex for FY15 is around INR 22,000 crore. We will be raising the funds through a mix of domestic bonds and equity.&quot;</span></span></span></p> <p style="text-align: justify;"><span style="color:#696969"><span style="font-size:11px"><span style="font-family:arial">Source-On Request</span></span></span></p>