POWERGRID posts 11% YoY Profit After Tax (PAT) growth in Q3FY23

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New Delhi, Feb 04 Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ company under Ministry of Power, GoI, has announced the Unaudited Financial Results of the company for the quarter and nine months ending 31^st December, 2022.

During Q3FY23, the company has reported PAT of ₹3,645 crore and total income of ₹11,530 crore on consolidated basis registering a YoY growth of 11% and 8% respectively. On standalone basis, the company has posted PAT and total income of ₹3,702 crore and ₹11,472 crore respectively registering a YoY growth of 11% and 8% respectively.

For nine-month period (9MFY23), the PAT and total income on consolidated basis are ₹11,097 crore and ₹34,048 crore respectively, which are about 11% and 8% higher with respect to the corresponding period of FY22 (excluding exceptional items on account of monetization of assets). While on standalone basis, the PAT and total income are ₹11,119 crore and ₹33,680 crore respectively, registering a growth of 12% and 7% respectively with respect to the corresponding period of FY22 (excluding exceptional items on account of monetization of assets).

The company incurred a capital expenditure of ₹5,429 crore and capitalized assets worth ₹5,190 crore (excluding FERV) on consolidated basis till 9MFY23. The company’s Gross Fixed Assets on a consolidated basis stood at ₹2,68,903 crore as on December 31, 2022.

POWERGRID’s Board of Directors has declared second interim dividend of ₹5 per equity share of ₹10/- each (@ 50% of the paid-up equity share capital) for FY 2022-23. This is in addition to first interim dividend of ₹5 per equity share for the FY 2022-23. The interim dividend for the year thus amounts to ₹10 per share of ₹10/- each (@ 100% of the paid up equity share capital).

During Q3FY23, 800 ckm transmission line and 6,450 MVA transformation capacity has been added. The total transmission assets of POWERGRID and its subsidiaries at the end of the quarter stood at 1,73,790 ckm of transmission lines, 270 substations and 4,93,000 MVA of transformation capacity.

With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.81% for 9MFY23