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Power Grid consolidated net profit goes up by 9% to Rs 12,036 crore in FY'21

Power Grid has posted total income of Rs 40,824 crore and a Profit After Tax of Rs 12,036 crore on a consolidated basis for the financial year ended March 31, 2021

Power Grid consolidated net profit goes up by 9% to Rs 12,036 crore in FY'21
Power Grid consolidated net profit goes up by 9% to Rs 12,036 crore in FY'21

New Delhi: The state-run Power Grid on Friday announced its financial results for the fourth quarter (Q4FY'21) and for the financial year FY 2020-21. The Maharatna power PSU has posted a total income of Rs 40,824 crore and Profit After Tax of Rs 12,036 crore on a consolidated basis for the financial year ended March 31, 2021, registering a growth of 6 percent and 9 percent respectively over corresponding amounts for FY 2019-20. On a standalone basis, the company achieved a total income of Rs 40,527 crore and Profit After Tax (PAT) of Rs 11,936 crore registering a growth of 6 percent and 10 percent respectively over the previous financial year.

For the fourth quarter (Jan-March, 2021), the total income and profit after tax on a consolidated basis are Rs 10,816 crore and Rs 3,526 crore respectively, while on a standalone basis, the total income and profit after tax are Rs 10,705 crore and Rs 3,516 crore respectively.

During the financial year FY 2020-21, the company incurred a capital expenditure of Rs 11,284 crore and capitalized assets worth Rs 21,467 crore (excluding FERV) on a consolidated basis. Power Grid’s gross fixed assets on a consolidated basis stood at Rs 2,41,498 crore as of March 31, 2021, as against Rs 2,27,543 crore as of March 31, 2020.

With the use of state-of-the-art maintenance techniques, automation and digitization, Power Grid maintained average transmission system availability of 99.76 percent for FY 2020-21.

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For the first time, the Power Grid Board has recommended the issuance of common shares of the company as bonus shares in the ratio of 1:3 to its shareholders.
The company has proposed a final dividend of 30 percent (Rs 3 per share on a face value of Rs 10/- each) in addition to first and second interim dividends aggregating to  90 percent (Rs 9 per share on a face value of Rs 10/- each) already paid for the financial year 2020-21. The total dividend for the year thus amounts to Rs 13 per share (effectively) compared to Rs 10 per share paid for the previous year.

Power Grid's total dividend for the year thus amounts to Rs 13 per share (effectively) compared to Rs 10 per share paid for the previous year

In FY 2020-21, major transmission elements commissioned include Bipole-I of ±800 kV Raigarh – Pugalur HVDC system enhancing total Inter-Regional Power transfer capacity by 3,000 MW between Southern Region and Western Region, and state-of-the-art VSC technology-based ±320 kV Monopole-II(1000MW) of Pugalur (Tamilnadu)-Thrissur(Kerala) HVDC system.

During the year, Power Grid acquired the balance (74 percent) stake in Jaypee Powergrid Limited and assets of Srinagar - Leh Transmission System were transferred to Power Grid by the government of India.

Power Grid has been a successful bidder in all the five TBCB (ISTS) projects with an aggregate annual levelized tariff of Rs 515.84 crore in FY 2020-21.

Central Transmission Utility of India Limited, a 100 percent owned subsidiary of Power Grid has been designated as the CTU with effect from April 1, 2021. This subsidiary will be subsequently made a separate government-owned company.

At the end of FY 2021, the total transmission assets of Power Grid and its subsidiaries stood at 1,69,829 ckm of transmission lines and 4,37,223 MVA of transformation capacity registering y-o-y growth of 4 percent and 7 percent respectively.

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