PowerGrid Q4 results: Reports 4% increase in profit of Rs. 4,320 cr
For Q4 of FY 23, the company posted a PAT of Rs 4,320 crore on a consolidated basis which is 4% increase over Q4FY22.
New Delhi: Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced a PAT of Rs 15,417 crore and total income of Rs 46,606 crore for FY23 registering a YoY growth of 11% and 9% respectively over FY 22 (excluding exceptional items).
For Q4 of FY 23, the company posted a PAT of Rs 4,320 crore on a consolidated basis which is 4% increase over Q4FY22. The total income on consolidated basis for Q4 FY23 rose by 13% to Rs 12,557 crore compared to Rs 11,068 crore for Q4FY22.The Company has proposed a final dividend of 47.50% (Rs 4.75 per share on a face value of Rs 10/- each) in addition to first & second interim dividend of Rs 10/- per share already paid for the FY23. The total dividend for the year thus amounts to Rs 14.75 per share which is same as that for the previous year.Read Also : Abhai Raj Singh Bhandari took over as ED of BPCL's Kochi Refinery
The Company incurred a Capital Expenditure of Rs 9,212 crore and capitalized assets worth Rs 7,413 crore (excluding FERV) on consolidated basis during the financial year. The Company’s Gross Fixed Assets on a consolidated basis stood at Rs 2,70,107 crore as on March 31, 2023 as against Rs 2,62,726 crore as on March 31, 2022.
In FY23, the Company along with its subsidiaries added 24,900 MVA transformation capacity, 07 sub-stations and 1,676 ckm transmission lines. POWERGRID has successfully commissioned its 04 TBCB subsidiaries i.e. POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, POWERGRID Medinipur-Jeerat Transmission Limited and POWERGRID Bhuj Transmission Limited.
As on 31.03.2023, the total transmission assets of POWERGRID and its subsidiaries stood at 1,74,110 ckm of transmission lines, 272 sub-stations and 4,99,360 MVA of transformation capacity.Read Also : Shri Ashwini Vaishnaw chaired meeting of Consultative Committee for Ministry of Railways
During the year, POWERGRID has acquired one Intra State Transmission System and eleven Inter State Transmission System TBCB subsidiaries with an estimated cost of approx. Rs9,500 crore.
The Company continued to maintain high average transmission system availability of over 99.80% in FY23 also. The average transmission system availability in FY23 was 99.82%. POWERGRID has been ranked in the first quadrant for both Line and Substation Maintenance in the International Transmission Operation and Maintenance Study (ITOMS) for 2021-22. Ranking in the first quadrant is indicative of asset maintenance being carried out at low cost with high performance levels.Read Also : Shri P Upadhyay INAS takes over as Director General of Naval Armament
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