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.
