Friday, June 24, 2022

Q4 FY’22: Power Grid registers 18% increase in net profit of Rs 4,156 crore

Power Grid has posted a net profit of Rs 4,156 crore in the fourth quarter (Q4) of FY'22 on a consolidated basis, which is 18 percent higher over Q4 of FY'21

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New Delhi: Maharatna Power PSU, Power Grid has posted a net profit of Rs 4,156 crore in the fourth quarter (Q4) of FY’22 on a consolidated basis, which is 18 percent higher over Q4 of FY’21. The total income during the Q4 of FY’22 was Rs 11,068 crore compared to Rs 10,816 crore in the Q4 of the previous year.

On a consolidated basis, Power Grid posted a net profit of Rs 16,824 crore and total income of Rs 42,698 crore for FY’22 registering a YoY growth of 40 percent and 5 percent respectively.

The Maharatna PSU has proposed a final dividend of 22.5 percent (Rs 2.25 per share on a face value of Rs 10/- each) in addition to first and second interim and special dividends aggregating to 125 percent (Rs 12.5/- per share on a face value of Rs 10/- each) already paid for the FY’22. The total dividend for the year thus amounts to Rs 14.75 per share compared to Rs 9.75 per share (adjusted for Bonus Share) for the previous year.

During the year, the company completed the first asset monetization by a PSU through the Infrastructure Investment Trust (InvIT) route. PGInvIT, sponsored by the company, got listed on BSE & NSE on May 14, 2021. Total monetisation done by the company during FY’22 is Rs 8,370 crore.

The company incurred a capital expenditure of Rs 9,060 crore and capitalized assets worth Rs 20,695 crore (excluding FERV) on a consolidated basis during the financial year. The company’s gross fixed assets on a consolidated basis stood at Rs 2,62,726 crore as on March 31, 2022, as against Rs 2,41,498 crore as of March 31, 2021.

In FY’22, Power Grid along with its subsidiaries added 43,500 MVA transformation capacity, 7 sub-stations and 5,450 ckm transmission lines. The Indian portion of additional cross border links with neighbouring countries (Bhutan and Bangladesh) has been completed. To strengthen the grid, 7200 MW of Inter-Regional (IR) capacity has been added during the year, IR capacity of the national grid stands at 1,12,250 MW at the end of FY22.

Power Grid maintained average transmission system availability of 99.83 percent during FY’22 compared to 99.76 percent in the corresponding period of the previous year.

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