POWERGRID reports 11% increase in Profit After Tax for FY23, adds substantial transmission capacity
POWERGRID, a ‘Maharatna’ Company under the Ministry of Power, Government of India, has reported a significant increase in its profit after tax (PAT) and total income for the fiscal year 2023. The company’s PAT reached ₹15,417 crore, marking an 11% year-on-year growth, while its total income rose by 9% to ₹46,606 crore (excluding exceptional items) compared to the previous fiscal year.
A consolidated PAT of ₹4,320 crore was achieved by POWERGRID during FY 23. The company has proposed a final dividend of 47.50% per share, amounting to ₹4.75 on each ₹10 face value share, in addition to the first and second interim dividends of ₹10 per share already paid for FY23. The total dividend for the year remains the same as the previous year at ₹14.75 per share.
POWERGRID and its subsidiaries have added 24,900 MVA transformation capacity in the year In In FY23 while it has added 1,676 ckm transmission lines and 7 sub-stations. Notably, four TBCB (Tariff Based Competitive Bidding) subsidiaries, namely POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, POWERGRID Medinipur-Jeerat Transmission Limited, and POWERGRID Bhuj Transmission Limited, were successfully commissioned.
In the maintenance Study (ITOMS) as well as the International Transmission Operation for 2021-22, The company has achieved a position in the first quadrant for both Substation and Line Maintenance. This ranking reflects the company’s ability to maintain assets at high performance levels while minimizing costs.
