POWERGRID total income rises by 5 pct. to rs. 9817 crore
New Delhi: Power Grid Corporation of India Limited (POWERGRID), has posted a Profit After Tax of rs.2,048 crore and Total Income of rs.9,817 crore on consolidated basis for Q1FY21. On standalone basis, the Company posted Profit After Tax and Total Income of rs.1,979 crore and rs.9,620 crore respectively for Q1FY21. During the quarter, the Company recognized as an exceptional item, the one-time consolidated rebate of rs.1,075 crore to DISCOMs / Power Departments of the States and Union Territories for passing on to the end-consumers on account of Covid-19 pandemic against the billing of Apr’20 & May’20. Excluding the impact of this one-time rebate, the Company’s profit increased by 18% over the corresponding period of FY2019-20 on standalone basis.
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