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Q2 FY22 Results: Power Grid posts 82% higher profit in first half of the fiscal

During the September quarter of FY22, Power Grid has reported a net profit of Rs 3,376.38 crore and a total income of Rs 10,514.74 crore on a consolidated basis registering a YoY growth of 9 percent and 7 percent respectively
Power Grid posts net profit of Rs 3,376 crore in Q2 FY22
Power Grid posts net profit of Rs 3,376 crore in Q2 FY22

New Delhi: Power Grid has announced unaudited financial results for Q2 FY22 ending September 30. The company has reported PAT of Rs 3,376.38 crore and a total income of Rs 10,514.74 crore on a consolidated basis registering a YoY growth of 9 percent and 7 percent respectively. On a standalone basis, Power Grid has posted PAT and total income of Rs 3,338.27 crore and Rs 10,472.00 crore respectively registering a YoY growth of 7 percent and 6 percent respectively during Q2 FY22.

For a six-month period (H1 FY22), the PAT and total Income on a consolidated basis are Rs 9,374.66 crore and Rs 20,906.35 crore respectively, which are about 82 percent and 6 percent higher with respect to the corresponding period of FY21, while on a standalone basis, the PAT and total income are Rs 9,423.68 crore and Rs 20,757.38 crore respectively, registering a growth of 85 percent and 6 percent respectively.

The company incurred a capital expenditure of Rs 1,939 crore and capitalized assets worth Rs 7,633 crore (excluding FERV) on a consolidated basis during Q2FY22. PowerGrid's Gross Fixed Assets on a consolidated basis stood at Rs 2,54,997 crore as on September 30, 2021.

During the quarter, 2,100 ckm transmission lines and 14,000 MVA transformation capacity has been added. The Inter-Regional (IR) power transfer capacity has been enhanced by 5,700 MW, with the commissioning of 765 kV D/c Vindhyachal -Varanasi line (4200MW) and Bipole-II (Pole 3) 1500 MW, ±800 kV HVDC Raigarh-Pugalur link. The IR capacity of National Grid stands at 1,10,750 MW at the end of Q2- FY22.

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All the elements under TBCB subsidiaries, Power Grid Varanasi Transmission System Limited and POWERGRID Fatehgarh Transmission Limited have been fully commissioned.

At the end of Q2FY22, the total transmission assets of Power Grid and its subsidiaries stood at 1,70,724 ckm of transmission lines, 262 substations and 4,54,350 MVA of transformation capacity.

Power Grid maintained average transmission system availability of 99.82 percent during H1 FY22 compared to 99.83 percent in the corresponding period of the previous year.

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