New Delhi (05/11/2022): Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced the Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2022.
The company has reported PAT of ₹3,650 crore and Total Income of ₹11,349 crores on consolidated basis registering a YoY growth of 8%. On standalone basis, the Company has posted PAT and Total Income of ₹3,651 crores and ₹11,190 crores respectively registering a YoY growth of 9% and 7% respectively during Q2FY23.
For the six-month period (H1FY23), the PAT and Total Income on consolidated basis are ₹ 7,451 crores and ₹22,518 crores respectively, which are about 11% and 8% higher with respect to the corresponding period of FY22 (excluding exceptional items), while on standalone basis, the PAT and Total Income are ₹7,417 crores and ₹22,207 crores respectively, registering a growth of 12% and 7% respectively with respect to the corresponding period of FY22 (excluding exceptional items).
The Company incurred a Capital Expenditure of ₹3,219 crores and capitalized assets worth ₹3,133 crores (excluding FERV) on consolidated basis till H1FY23. The Company’s Gross Fixed Assets on a consolidated basis stood at ₹2,67,256 crore as on September 30, 2022.
POWERGRID’s Board of Directors has declared interim dividend of ₹5.00 per equity share of ₹10/- each. All the elements of POWERGRID Mednipur Jeerat Transmission Limited and POWERGRID Bhind Guna Transmission Limited, both wholly owned TBCB subsidiaries, have been fully commissioned.
In Q2FY23, under Tariff based competitive bidding, POWERGRID has acquired Neemuch Transmission Limited and was declared successful bidder for “System Strengthening Scheme for Eastern and North Eastern Regions”.
For enhancing cross border transfer capacity, POWERGRID has incorporated Butwal Gorakpur Cross Border Power Transmission Limited, a 50:50 Joint Venture with Nepal Electricity Agency (NEA), for development of Indian portion of 400 kV Gorakhpur (India) – Butwal (Nepal) Transmission Line.
The total transmission assets of POWERGRID and its subsidiaries at the end of the quarter stood at 1,72,982 ckm of transmission lines, 267 substations and 4,86,592 MVA of transformation capacity. With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.82% for H1FY23.
