POWERGRID posts PAT of ₹15,573 crore and total income ₹46,913 crore for FY24

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under the Ministry of Power, GoI, has announced financial results for the period ending Q4FY24 and FY24.

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

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

The Company has proposed a final dividend of 27.50% (₹ 2.75 per share on a face value of ₹ 10/- each) in addition to the first & second interim dividend 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 the previous year's total dividend, adjusted for bonus issue.

In FY24, the Company along with its subsidiaries added 19,720 MVA transformation capacity, 06 sub-stations, and 4,036 ckm transmission lines. POWERGRID has successfully commissioned its 05 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 crore and Capitalized assets worth ₹ 7,618 crore (excluding FERV) on a consolidated basis. POWERGRID’s Gross Fixed Assets on a consolidated basis stood at ₹ 2,75,991 crore as of March 31, 2024. In FY24, under Tariff-based competitive bidding, POWERGRID acquired 10 ISTS TBCB subsidiaries with an estimated cost of approx. ₹ 26,872 crore

At the end of FY24, the total transmission assets of POWERGRID and its subsidiaries stood at 1,77,699 km 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.