POWERGRID posts Profit After Tax (PAT) of ₹3,117 crore for Q2FY21
Ten News Network
Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, has posted a PAT of ₹ 3,094 crore and Total Income of ₹ 9,831 crore on consolidated basis for Q2FY21. On standalone basis, the Company posted PAT and Total Income of ₹ 3,117 crore and ₹ 9,890 crore respectively for Q2FY21, registering an increase of about 23% & 8% respectively with respect to the corresponding period of FY20.
For six-month period (H1FY21), the PAT and Total Income on consolidated basis are ₹ 5,142 crore and ₹ 19,648 crore respectively, which are about 1% and 6% higher with respect to the corresponding period of FY20, while on standalone basis, the PAT and Total Income are ₹ 5,097 crore and ₹ 19,511 crore respectively, registering a growth of 3% and 6% respectively.
The Company incurred a Capital Expenditure of about ₹ 3,100 crore and capitalized assets worth ₹ 10,693 crore (excluding FERV) on consolidated basis during Q2FY21.
During the quarter, POWERGRID commissioned Pole-1 of Bipole-I of the prestigious 6000 MW Raigarh – Pugalur HVDC system despite many challenges and lockdown restrictions encountered during COVID-19 pandemic alongwiththe 1765 km long ±800 kV Raigarh – Pugalur HVDC transmission line traversing through five states, 400 kV D/c Pugalur – Arasur and 400 kV D/c Pugalur – Pugalur transmission lines. The commissioned elements will facilitate power flow of 1500 MW from Western Region to Southern Region ensuring reliable and quality power supply.
Other major assets commissioned during the quarter are, 400 kV D/C NNTPS – Ariyalur TL, 400 kV D/C Banaskantha – Radhanesda TL and ICTs at Gorakhpur, Bhuj, Radhanesda, Raigarh and Pugalur substations of POWERGRID.
POWERGRID’s physical assets along with its subsidiaries at the end of H1FY21, stood at 168,140 ckm of transmission lines, 252 substations and more than 419,800 MVA of transformation capacity.
With the adoption of latest technological tools and techniques, enhanced use of automation and digital solutions, POWERGRID maintained average transmission system availability of 99.83% during H1FY21.