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Central transmission utility Power Grid Corporation today said its board has approved investment of over INR 1,900 crore for expansion and upgradation works by the middle of 2016 . The board in its meeting earlier this month approved INR 908.08 crore and INR 539.82 crore for two transmission system strengthening schemes in the northern region, Power Grid said in a stock exchange filing.

The expansion and upgradation of load despatch centres for INR 56.18 crore was also approved by the Board. Sub-station work for an NTPC power plant worth INR 167.40 crore and system strengthening programme for the southern region for INR 243.53 crore also received the approval from the Board, the filing said.

The company last week had reported a net profit of INR 1,042.04 crore in the three months ended December 2013, mainly on account of to higher finance costs and tax expenses. Turnover jumped to INR 3,684.55 crore in the third quarter of the current financial year from INR 3,368.93 crore in the year-ago period. Shares of the company closed at INR 95.70, down 0.16 percent. Power Grid Corp stock price On 13.2.2014, at 10:20 hrs Power Grid Corporation of India was quoting at INR 95.60, down INR 0.1, or 0.1 percent. The 52-week high of the share was INR 116.70 and the 52-week low was INR 86.70. The company's trailing 12-month (TTM) EPS was at INR 8.47 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 11.29. The latest book value of the company is INR 51.31 per share. At current value, the price-to-book value of the company is 1.86.

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