POWERGRID Reports Strong Financial Performance and Infrastructure Expansion in FY23

Power Grid Corporation of India Limited (POWERGRID), a  company under  Ministry of Power, Government of India– has reported a profit after tax (PAT) of ₹15,417 crore and a total income of ₹46,606 crore for the fiscal year 2022-23. This represents an 11% and 9% year-on-year growth, respectively, excluding exceptional items.

In the fourth quarter of FY 2022-23, the company achieved a consolidated PAT of ₹4,320 crore, marking a 4% increase compared to Q4 FY 2021-22. The consolidated total income for Q4 FY 2022-23 rose by 13% to ₹12,557 crore, up from ₹11,068 crore in Q4 FY 2021-22.

POWERGRID has proposed a final dividend of 47.50% (₹4.75 per share with a face value of ₹10 each) in addition to the first and second interim dividends of ₹10 per share already paid for FY 2022-23. The total dividend for the year amounts to ₹14.75 per share, matching the previous year.

During the fiscal year, the company invested ₹9,212 crore in capital expenditure and capitalized assets worth ₹7,413 crore (excluding FERV) on a consolidated basis. As of March 31, 2023, POWERGRID’s gross fixed assets stood at ₹2,70,107 crore, compared to ₹2,62,726 crore as of March 31, 2022.

POWERGRID together with its subsidiaries have added  1,676 ckm transmission lines, 24,900 MVA transformation capacity and 7 sub-stations in FY 2022-23.

The company successfully commissioned four TBCB subsidiaries: POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, POWERGRID Medinipur-Jeerat Transmission Limited, and POWERGRID Bhuj Transmission Limited.

As of March 31, 2023, the total transmission assets of POWERGRID and its subsidiaries comprised 1,74,110 ckm of transmission lines, 272 sub-stations, and 4,99,360 MVA of transformation capacity.

The company maintained a high average transmission system availability of over 99.80% in FY 2022-23, with an average availability of 99.82%. POWERGRID achieved a first-quadrant ranking for both Line and Substation Maintenance in the International Transmission Operation and Maintenance Study (ITOMS) for 2021-22, indicating cost-effective asset maintenance and high performance levels.





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