POWERGRID earns profit of Rs 3,117 crore after tax

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POWERGRID (Power Grid Corporation of India Limited), a Government of India Maharatna Company has posted a record profit after tax (PAT) of Rs 3,094 crore with a total income of Rs 9,831 crore on a consolidated basis for the second quarter of FY21. It has registered an increase of 23% increase in PAT and an 8% increase in total income compared to the corresponding period of FY20.

Remarkably, the capital expenditure incurred by the company stood at Rs 3,100 crore while it capitalized assets worth Rs 10,693 crore on a consolidated basis during this period in which it commissioned Pole-I of Bipole-I of 6000 MW Raigarh โ€“ Pugalur HVDC system even though it encountered various challenges during the lockdown period due to the spread of COVID-19 pandemic.

It also commissioned 400 kV D/C NNTPS โ€“ Ariyalur TL, 400 kV D/C Banaskantha โ€“ Radhanesda TL, and ICTs at Bhuj, Gorakhpur, Radhanesda, Pugalur, and Raigarh substations of POWERGRID. The companyโ€™s physical assets along with its subsidiaries stood at 252 substations, 168,140 km of transmission lines, and a transformation capacity of more than 419,800 MVA.

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