New Delhi, 23 May 2024: Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced financial results for period ending Q4FY24 and FY24. For Q4 FY24, on standalone basis company has reported PAT of ₹ 4,128 crore and Total Income of ₹ 12,254 crore.
On consolidated basis, company has reported PAT of ₹ 4,166 crore and Total Income of ₹ 12,305 crore.
For FY24, on standalone basis, company posted PAT and Total Income (including discontinued operations) of ₹ 15,475 crore and ₹ 46,215 crore respectively. On consolidated basis, company posted PAT and Total Income of ₹ 15,573 crore and ₹ 46,913 Crore.
The Company has proposed a final dividend of 27.50% (₹ 2.75 per share on a face value of ₹ 10/- each) in addition to first & second interim dividend of ₹ 8.50/- per share already paid for the FY24. The total dividend for the year thus amounts to ₹ 11.25 per share which is 1.69% higher than that of previous year total dividend, adjusted of bonus issue.
In FY24, the Company alongwith its subsidiaries added 19,720 MVA transformation capacity, 06 sub-stations and 4,036 ckm transmission lines. POWERGRID has successfully commissioned its 05 TBCB subsidiaries i.e POWERGRID Ramgarh Transmission Limited, POWERGRID Bikaner Transmission System Limited, POWERGRID Meerut Simbhavali Transmission Limited, POWERGRID Gomti Yamuna Transmission Limited and POWERGRID Neemuch Transmission System Limited.
During FY24, the Company incurred a Capital Expenditure of ₹ 12,500 crore and Capitalized assets worth ₹ 7,618 crore (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on consolidated basis stood at ₹ 2,75,991crore as on March 31, 2024.
In FY24, under Tariff based competitive bidding, POWERGRID has acquired 10 ISTS TBCB subsidiaries with an estimated cost of approx. ₹ 26,872 crore At the end of FY24, the total transmission assets of POWERGRID and its subsidiaries stood at 1,77,699 ckm of transmission lines, 278 substations and 5,27,446 MVA of transformation capacity. POWERGRID maintained average transmission system availability of 99.85% during FY24.
