Wednesday, October 5, 2022

POWERGRID posts PAT of Rs 3,801 crore for Q1’FY23

POWERGRID incurred a Capital Expenditure of Rs 1,482 crore and capitalized assets worth Rs 1,345 crores (excluding FERV) on a consolidated basis during Q1FY23

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New Delhi: Power Grid Corporation of India Limited (POWERGRID) has announced on a consolidated basis, a total income of Rs 11,169 crores for Q1FY23, which is 7% higher compared to Rs 10,392 crores in the Q1 of the previous year. The PAT for Q1FY23 on a consolidated basis is Rs 3,801 crore, which is 14% over Q1FY22 (excluding exceptional items) on a comparable basis. In Q1FY22, PAT of Rs 5,998 crores included an exceptional item of Rs 3,014 crores (Rs 2,657 crore net of tax) on account of monetization of assets.

POWERGRID incurred a Capital Expenditure of Rs 1,482 crore and capitalized assets worth Rs 1,345 crores (excluding FERV) on a consolidated basis during Q1FY23. The Company’s Gross Fixed Assets on a consolidated basis stood at Rs 2,64,838 crore as of June 30, 2022.

The Maharatna power company has added a new 765/400/220 kV Bhuj-II GIS sub-station along with augmentation of transformation capacity at Bhadla and Fatehgarh to facilitate the evacuation of renewable energy generation. The total transmission assets of POWERGRID and its subsidiaries at the end of the quarter stood at 1,72,662 ckm of transmission lines, 267 substations and 4,85,777 MVA of transformation capacity.

With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.79% for Q1FY23.
The company acquired two TBCB subsidiaries viz Khetri – Narela Transmission Limited and Mohanlalganj Transmission Limited during Q1FY23.

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