Powergrid profit slips down 2.2% for Q3 results to Rs 3,293 crore

by Psu Connect
Date: 10-02-22

The consolidated net profit of the company stands Rs 3,293 crore, a 2.2 percent decline from the same quarter a year ago.

Powergrid profit slips down 2.2% for Q3 results to Rs 3,293 crore

New Delhi: Indian statutory corporation under the jurisdiction of Ministry of Power, Power Grid Corporation Limited on Wednesday, February 9 posted the results for the Financial year 2022. The consolidated net profit of the company stands Rs 3,293 crore, a 2.2 percent decline from the same quarter a year ago.

For nine months ending 31st December 2021, on a standalone basis, the company posted PAT and Total Income of Rs. 12773 crore and Rs. 31,394 crore registering a YoY growth of 52% and 5% respectively. On a consolidated basis, the company posted PAT and Total Income of Rs. 12668 crore and Rs. 31630 crore registering a YoY growth of 49% and 5% respectively.

For Q3FY22, on a standalone basis company has reported PAT of Rs. 3349 crore and a Total Income of Rs. 10637 crore. On a consolidated basis, the company has reported PAT of Rs. 3293 crore and a Total Income of Rs. 10724 crore.

POWERGRID’s Board of Directors has declared 2nd interim dividend of Rs. 5.50 per equity share of Rs. 10/- each (@ 55% of the paid-up equity share capital) for FY 2021-22. This is in addition to interim dividend Rs. 7.00 per equity share (including special dividend of Rs. 3.00 per equity share) for the FY 2021-22 paid in January 2022.

The Company incurred a Capital Expenditure of Rs. 3493 crore and capitalized assets worth Rs. 5238 crore (excluding FERV) on consolidated basis during Q3FY22. POWERGRID’s Gross Fixed Assets on consolidated basis stood at Rs. 260247 crore as on December 31, 2021.

During the quarter, 1,468 ckm transmission lines and 18,256 MVA transformation capacity has been added. The Inter-Regional (IR) power transfer capacity has been enhanced by 1500 MW, with the commissioning ±800 kV 1500 MW, Pole IV of HVDC Raigarh-Pugalur link. The IR capacity of National Grid stands at 1,12,250 MW at the end of Q3FY22.

All the elements of POWERGRID Khetri Transmission System Limited and POWERGRID Mithilanchal Transmission Limited, both TBCB subsidiaries, have been fully commissioned.
At the end of Q3FY22, the total transmission assets of POWERGRID and its subsidiaries stood at 1,72,190 ckm of transmission lines, 264 substations and 4,69,600 MVA of transformation capacity. POWERGRID maintained average transmission system availability of 99.82% during nine month FY22 compared to 99.80% in the corresponding period of the previous year.