POWERGRID records Profit After Tax of ₹ 15,573 crores and Total Income ₹ 46,913 crores for FY24 on Consolidated Basis

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, Government of India, has announced its financial results for the period ending Q4FY24 and FY24.

For Q4FY24, on standalone basis, the company has reported a Profit After Tax of ₹ 4,128 crores and Total Income of ₹ 12,254 crores. On consolidated basis, the company has reported a PAT of ₹ 4,166 crores and Total Income of ₹ 12,305 crores.

For FY24, on standalone basis, the company posted PAT of ₹ 15,475 crores and Total Income (including discontinued operations) of ₹ 46,215 crores. On consolidated basis, the company posted PAT of ₹ 15,573 crores and Total Income of ₹ 46,913 Crores.

The Company has proposed a final dividend of 27.50% (₹ 2.75 per share on a face value of ₹ 10/- each) in addition to first and second interim dividends of ₹ 8.50/- per share already paid for the FY24. The total dividend for the year thus amounts to ₹ 11.25 per share which is 1.69% higher than that of previous year total dividend, adjusted of bonus issue.

In FY24, the Company along with its subsidiaries added 19,720 MVA transformation capacity, 6 sub-stations and 4,036 circuit kilometres of transmission lines. POWERGRID has successfully commissioned its 5 Tariff Based Competitive Bidding (TBCB) subsidiaries i.e POWERGRID Ramgarh Transmission Limited, POWERGRID Bikaner Transmission System Limited, POWERGRID Meerut Simbhavali Transmission Limited, POWERGRID Gomti Yamuna Transmission Limited and POWERGRID Neemuch Transmission System Limited.

During FY24, the Company incurred a Capital Expenditure of ₹ 12,500 crores and Capitalized assets worth ₹ 7,618 crores (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on consolidated basis stood at ₹ 2,75,991crores as on March 31, 2024.

In FY24, under Tariff based competitive bidding, POWERGRID has acquired 10 ISTS TBCB subsidiaries with an estimated cost of approx. ₹ 26,872 crores.

At the end of FY24, the total transmission assets of POWERGRID and its subsidiaries stood at 1,77,699 circuit kilometres of transmission lines, 278 substations and 5,27,446 MVA of transformation capacity.

POWERGRID maintained an average transmission system availability of 99.85% during FY24.