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POWERGRID FY24 Results: PAT of ₹ 15,573 crores and Total Income ₹ 46,913 crores on Consolidated Basis

By
LO Bureau
-
Power Grid Corporation of India

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, has announced its financial results for Q4FY24 and FY24.

For Q4FY24, on a standalone basis, the company reported a Profit After Tax (PAT) of ₹4,128 crores and a Total Income of ₹12,254 crores. On a consolidated basis, the company recorded a PAT of ₹4,166 crores and a Total Income of ₹12,305 crores.

For FY24, on a standalone basis, the company posted a PAT of ₹15,475 crores and a Total Income (including discontinued operations) of ₹46,215 crores. On a consolidated basis, the company achieved a PAT of ₹15,573 crores and a Total Income of ₹46,913 crores.

The company has proposed a final dividend of 27.50% (₹2.75 per share on a face value of ₹10 each), in addition to the first and second interim dividends of ₹8.50 per share already paid for FY24. This brings the total dividend for the year to ₹11.25 per share, which is 1.69% higher than the previous year’s total dividend, adjusted for the bonus issue.

In FY24, the company and its subsidiaries added 19,720 MVA transformation capacity, 6 substations, and 4,036 circuit kilometres of transmission lines. POWERGRID successfully commissioned five Tariff Based Competitive Bidding (TBCB) subsidiaries: 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 crores and capitalized assets worth ₹7,618 crores (excluding FERV) on a consolidated basis. POWERGRID’s Gross Fixed Assets on a consolidated basis stood at ₹2,75,991 crores as of March 31, 2024.

Under tariff-based competitive bidding, POWERGRID acquired 10 ISTS TBCB subsidiaries in FY24 with an estimated cost of approximately ₹26,872 crores.

At the end of FY24, the total transmission assets of POWERGRID and its subsidiaries included 1,77,699 circuit kilometres of transmission lines, 278 substations, and 5,27,446 MVA of transformation capacity. POWERGRID maintained an average transmission system availability of 99.85% during FY24.

SC Collegium recommends Justice Rajesh Sekhri for fresh term as Additional Judge Of J&K and Ladakh HC

By
LO Bureau
-
Jammu & Kashmir and Ladakh High Court

The Supreme Court of India has recently recommended Justice Rajesh Sekhri for a fresh term as Additional Judge of the High Court of Jammu & Kashmir and Ladakh.

Click here to see Collegium Recommendation

Justices Susmita Phukan Khaund and Mitali Thakuria elevated to Permanent Judges of the Gauhati HC

By
LO Bureau
-

The Supreme Court Collegium has recently recommended to the Centre the names of two Additional Judges for appointment as Permanent Judges of the Gauhati High Court.

They are;

  1. Justice Susmita Phukan Khaund
  2. Justice Mitali Thakuria

Click here to see Collegium Recommendation

Assam: Three IAS officers shifted

By
LO Bureau
-

The Assam government has recently issued transfer and posting orders of three IAS officers.

The names of the officers and their postings are as follows;

  1. B Kalyan Chakravarthy (IAS:1995:AM), Principal Secretary, Labour Welfare, Skill Employment & Entrepreneurship, Cooperation & Culture Affairs Departments & Chairman, State Level Recruitment Commission for Class-IV posts, has been given additional charge of Principal Secretary, Home & Political Department.
  2. Arun Rajoria (IAS:2004:AM), Commissioner & Secretary, Agriculture, Information & Public Relations and Printing & Stationery Departments, Agriculture Production Commissioner, Chairman, State Level Recruitment Commission for Class-III Posts & Chairman, ARIAS Society has been given additional charge of Chairman, Assam Silk Outreach Mission (ASOM).
  3. Pabitra Ram Khaund (IAS-SCS:2010), Secretary, Irrigation Department, Department of Housing and Urban Affairs (Addl), State Prabhari Officer (Udalguri) & Member, State Level Recruitment Commission for class-III, has been given additional charge of Secretary, Water Resources Department.

Three IES officers shifted, BK Sinha posted as Senior Economic Adviser, DFS

By
LO Bureau
-

The Department of Economic Affairs on Monday (20.05.2024) issued transfer and posting orders for three Indian Economic Service officers.

They are;

  1. Shyam Singh Negi (IES:1993), Senior Economic Adviser, Department of Drinking Water & Sanitation, Ministry of Jal Shakti, has been transferred and posted as Senior Economic Adviser, Ministry of Food Processing Industries.
  2. Bhushan Kumar Sinha (IES:1993), Joint Secretary, Department of Financial Services (on return from CSS deputation) has been transferred and posted as Senior Economic Adviser, Department of Financial Services.
  3. Supriya Malik (IES:2016), Deputy Director, O/o Development Commissioner, Ministry of MSME (on return from Child Care Leave) has been posted as Deputy Director, Department of Expenditure.

Salim G Purushothaman selected as Director (Operations), RINL

By
LO Bureau
-

Salim G Purushothaman has been selected as Director (Operations), Rashtriya Ispat Nigam Limited (RINL) at a Public Enterprises Selection Board (PESB) meeting held on May 21, 2024. Presently, he is serving as Executive Director, Braithwaite & Co. Ltd.

He will be appointed to the post of Director (Operations) after receiving vigilance clearances and approval from the Appointments Committee of the Cabinet.

The following 12 applicants were interviewed in the selection meeting:

  1. Ranjan Mohanty, Chief General Manager, Rashtriya Ispat Nigam Limited (RINL)
  2. T Goutham, General Manager, Rashtriya Ispat Nigam Limited (RINL)
  3. P Srinivasulu, General Manager, Rashtriya Ispat Nigam Limited (RINL)
  4. M S Krishna Mohan, General Manager, Rashtriya Ispat Nigam Limited (RINL)
  5. Konthan Sudhakar, General Manager, Rashtriya Ispat Nigam Limited (RINL)
  6. P Srinivasa Rao, General Manager, Rashtriya Ispat Nigam Limited (RINL)
  7. Prasanna Kumar Rath, Executive Director, Steel Authority of India Ltd (SAIL)
  8. Sanjay Srivastava, Chief General Manager, Steel Authority of India Ltd (SAIL)
  9. Salim G Purushothaman, Executive Director, Braithwaite & Co. Ltd.
  10. Rajasekhar Pala, General Manager, NTPC Limited
  11. Ajay Singh, General Manager, Central Coalfields Ltd.
  12. Balivada Venkata Rao, Additional General Manager, Indian Ordnance Factories Service

Haryana: Pankaj gets addl. charge of Director/Special Secretary, Development & Panchayats Department

By
LO Bureau
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cadre mismatch in forests deptt

Pankaj (IAS:2009:HY), Special Secretary, Finance Department, CEO, Haryana Parivar Suraksha Nyas and Director, Swarna Jayanti Haryana Institute for Fiscal Management, has been given additional charge of Director and Special Secretary, Development & Panchayats Department.

T Roumuan Paite gets addl. charge of MD, TRIFED

By
LO Bureau
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TRIFED

T Roumuan Paite (IRS-IT:1996), CMD of National Scheduled Tribes Finance & Development Corporation (NSTFDC), Ministry of Tribal Affairs, has been given additional charge of MD, Tribal Co-operative Marketing Development Federation of India (TRIFED). According to an order issued by the Department of Personnel and Training (DoPT), the Appointments Committee of the Cabinet has approved the assignment of additional charge of the post to T Roumuan Paite with effect from 13.11.2023 till 12.11.2024 or till appointment of a regular incumbent or until further orders, whichever is earlier.

BPCL CVO Meenaxi Rawat gets two years extension

By
LO Bureau
-
Bharat Petroleum Corporation Limited

The deputation tenure of Meenaxi Rawat (IES:1993) as Chief Vigilance Officer (CVO), Bharat Petroleum Corporation Limited (BPCL), Mumbai has been extended for two years. According to an order issued by the Department of Personnel and Training (DoPT), the competent authority has approved the proposal to extend the deputation tenure of Meenaxi Rawat for further period of 2 years beyond 14.09.2024 i.e. upto 14.09.2026 or until further orders, whichever is earlier.

Kamlesh Chaturvedi gets three months extension as JS, MoRTH

By
LO Bureau
-

The central deputation tenure of Kamlesh Chaturvedi (IFoS:1988:MP) as Joint Secretary in the Ministry of Road Transport & Highways (MoRTH) has been extended for three months. According to an order issued by the Department of Personnel and Training (DoPT), the Appointments Committee of the Cabinet has approved the proposal of MoRTH to extend the deputation tenure of Kamlesh Chaturvedi for three months beyond 21.05.2024 or until further orders, whichever is earlier.

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