POWERGRID posts PAT of `3,597 cr in Q1

Power Grid Corporation of India Limited (POWERGRID) has announced a PAT and Total Income of Rs 3,597 crore and Rs 11,258 crore respectively for Q1FY24 on a consolidated basis.

The Company incurred a Capital Expenditure of Rs 1,506 crore and capitalized assets worth Rs 1,615 crore (excluding FERV) on consolidated basis during Q1FY24. The Company’s Gross Fixed Assets on a consolidated basis stood at Rs 2,70,757 crore as on June 30, 2023 as against Rs 2,64,838 crore as on June 30, 2022.

POWERGRID Board has recommended issuance of common shares of the Company as bonus shares in the ratio of 1:3 i.e one bonus share for every three shares held to its shareholders. During the quarter, the Company along with its subsidiaries added 4,435 MVA transformation capacity, two GIS sub-stations and 1,428 ckm transmission lines.

As on June 30, 2023, the total transmission assets of POWERGRID and its subsidiaries stood at 1,74,625 ckm of transmission lines, 274 sub-stations and 5,08,350 MVA of transformation capacity. The Company continued to maintain high average transmission system availability, for Q1FY24 POWERGRID average availability is 99.86 per cent.POWERGRID posts PAT of `3,597 cr in Q1POWERGRID posts PAT of `3,597 cr in Q1