Power Grid Q1 net profit slightly dips to Rs 3,598 crore

New Delhi: State-owned Power Grid Corporation of India (PGCIL) has reported a slight on-year dip in consolidated net profit of Rs 3,598.42 crore in the June quarter.

The consolidated net profit was at Rs 3,630.58 crore in the quarter ended on June 30, 2025, the company said in a regulatory filing.

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The company's total income, however, rose to Rs 11,696.72 crore in the quarter from Rs 11,444.42 crore in the same period a year ago.

In another exchange filing on Wednesday, Power Grid said it has approved a Rs 856.94 crore project on August 5, 2026, to upgrade the Tirunelveli –Udumalpet and Pugalur–Madurai 400kV double-circuit lines with high-temperature low-sag (HTLS) conductors.

The project is set for completion within 24 months by February 11, 2028.

In the April-June quarter, the company incurred a capital expenditure of Rs 7,765 crore and capitalized assets worth Rs 5,277 crore (excluding FERV and including assets capitalized as finance lease) on consolidated basis during Q1FY27.

Power Grid's gross fixed assets on consolidated basis stood at Rs 3,25,671 crore (including Gross Lease Receivables) as on June 30, 2026.

At the end of Q1FY27, the total transmission assets of the company and its subsidiaries stood at 1,86,595 ckm of transmission lines, 291 substations and 6,34,516 MVA of transformation capacity. It maintained average transmission system availability of 99.80 percent during Q1FY27.

During Q1FY27, the company secured a JPY 80 billion loan from the Japan Bank for International Cooperation (JBIC) to finance the landmark Khavda-Nagpur HVDC Transmission Project.

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Further, under the tariff-based competitive bidding, Power Grid emerged as the successful bidder in five transmission projects during Q1FY27, comprising three Inter-State Transmission System (ISTS) projects and two Intra-State Transmission System (InSTS) projects.

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