PowerGrid Q3 net profit rises 14% to Rs 2,673 crore

New Delhi: PowerGrid Corporation of India Limited (PGCIL), a Maharatna company under the Ministry of Power, has posted a Profit after Tax (PAT) of Rs 2,673 crore and Total Income of Rs 9,497 crore for Q3 of FY2019-20 on a standalone basis.

On a consolidated basis, the company has posted PAT and Total Income of Rs 2,672 crore and Rs 9,541 crore, respectively, for Q3, registering an increase of about 14 percent and 7 percent, respectively with respect to the corresponding period of FY19. For the April-December period of FY2019-20, the PAT and Total Income on standalone basis are Rs 7,629 crore and Rs 27,908 crore, respectively, which are about 11 percent and 7 percent higher with respect to the corresponding period of FY19. On a consolidated basis, the Profit after Tax and Total Income are Rs 7,746 crore and Rs 28,163 crore, respectively, registering a growth of 11 percent and 8 percent respectively.

PowerGrid Capex stands at Rs 3,953 crore in Q3

Capital expenditure and capitalisation during the quarter was about Rs 3,953 crore and Rs 5,230 crore (excluding FERV) respectively, on a consolidated basis. For the nine-month period, capital expenditure and capitalisation was about Rs 10,485 crore and Rs 10,917 crore (excluding FERV) on a consolidated basis. POWERGRID's Gross Fixed Assets on a consolidated basis stood at about Rs 2,18,838 crore as on December 31, 2019.

The company has targeted a capital expenditure of Rs 15,000 crore for FY2019-20. POWERGRID's physical assets (including subsidiaries) as on December 31, 2019 include about 1,61,860 ckm of transmission lines, 248 substations with transformation capacity of about 3,99,890 MVA. During the year, with the use of state-of-the-art maintenance techniques, automation and digitisation, POWERGRID maintained average transmission system availability of 99.81 percent upto December 31, 2019.