Declares second interim dividend of Rs 4.50 per equity share
New Delhi, 08.02.2024: Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced unaudited financial results for Q3FY24 and nine months ended 31st December 2023.
For Q3FY24, on standalone basis company has reported PAT of ₹ 3,970 crore and Total Income of ₹ 11,468 crore registering a YoY growth of 7% and 2% respectively. On consolidated basis, company has reported PAT of ₹ 4,028 crore and Total Income of ₹ 11,820 crore registering a YoY growth of 10% and 3% respectively.
For nine months ended 31st December 2023, on standalone basis, company posted PAT (including discontinued operations) and Total Income of ₹11,347 crore and ₹ 33,562 crore respectively. On consolidated basis, company posted PAT and Total Income of ₹ 11,407crore and ₹ 34,608 crore respectively.
POWERGRID’s Board of Directors has declared 2nd interim dividend of ₹ 4.50 per equity share of ₹ 10/- each (@45% of the paidup equity share capital). This is in addition to interim dividend ₹ 4.00 per equity share for the FY 2023-24.The interim dividend for the year thus amounts to ₹8.5 per equity share of ₹ 10/-each which is 13.33% higher than that of pervious year interim dividend, adjusted of bonusissue.
The Company incurred a Capital Expenditure of ₹ 7,690 crore and capitalized assets worth ₹ 5,780 crore (excluding FERV) on consolidated basis till 9MFY24. POWERGRID’s Gross Fixed Assets on consolidated basis stood at ₹ 2,74,543 crore as on December 31, 2023.
In Q3FY24, under Tariff based competitive bidding, POWERGRID has been declared successful bidder for six ISTS projects with an estimated cost of ₹ 20,479 crore.
At the end of Q3FY24, the total transmission assets of POWERGRID and its subsidiaries stood at 1,76,530 ckm of transmission lines, 276 substations and 5,17,860 MVA of transformation capacity. POWERGRID maintained average transmission system availability of 99.86% during nine month FY24.
