POWERGRID posts 8 % growth in total income & PAT in FY23 September qtr

Gurugram: Power Grid Corporation of India Limited (POWERGRID), a 'Maharatna' company under Ministry of Power, Government of India, has announced the Unaudited Financial Results of the Company for the quarter and half year ended September

30, 2022.

The company has reported PAT of Rs 3,650 crore and Total Income of Rs 11,349 crore on consoli-dated basis registering a YoY growth of 8 per cent.

On standalone basis, the company has posted profit after tax (PAT) and Total Income of Rs 3,651 crore and Rs 11,190 crore respectively registering a YoY growth of 9 per cent and 7 per cent respectively during

Q2 FY23.

For six-month period (H1FY23), the PAT and Total Income on consolidated basis are Rs 7,451 crore and Rs 22,518 crore respectively, which are about 11 per cent and 8 per cent higher with respect to the corresponding period of FY22 (excluding exceptional items), while on standalone basis, the PAT and Total Income are Rs 7,417 crore and Rs 22,207 crore respectively, registering a growth of 12 per cent and 7 per cent respectively with respect to the corresponding period of FY22 (excluding exceptional items).

The Company incurred a Capital Expenditure of Rs 3,219 crore and capitalized assets worth Rs 3,133 crore (excluding FERV) on consolidated basis till H1FY23. The Company's Gross Fixed Assets on a consolidated basis stood at Rs 2,67,256 crore as on September 30, 2022.

Power Grid Corporation's Board of Directors has declared interim dividend of Rs 5.00 per equity share of Rs 10/- each.

All the elements of POWERGRID Mednipur Jeerat Transmission Limited and POWERGRID Bhind Guna Transmission Limited, both wholly owned TBCB subsidiaries, have been fully com-missioned.

In Q2 FY23, under Tariff based competitive bidding, POWERGRID has acquired Neemuch Transmission Limited and was declared successful bidder for "System Strengthening Scheme for Eastern and North Eastern Regions".