POWERGRID Reports ₹15,573 Crores PAT and ₹46,913 Crores Total Income for FY24

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

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

For the full fiscal year FY24, the company achieved a standalone PAT of ₹15,475 crores and a Total Income, including discontinued operations, of ₹46,215 crores. Consolidated figures for the same period showed a PAT of ₹15,573 crores and a Total Income of ₹46,913 crores.

The company proposed a final dividend of 27.50% (₹2.75 per share on a face value of ₹10 each), adding to the first and second interim dividends of ₹8.50 per share already paid for FY24. The total dividend for the year amounts to ₹11.25 per share, marking a 1.69% increase from the previous year’s total dividend, adjusted for a bonus issue.

During FY24, POWERGRID and its subsidiaries added 19,720 MVA of transformation capacity, commissioned six substations, and constructed 4,036 circuit kilometers of transmission lines. The company successfully operationalized five subsidiaries under Tariff Based Competitive Bidding (TBCB): 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.

In FY24, POWERGRID incurred a capital expenditure of ₹12,500 crores and capitalized assets worth ₹7,618 crores (excluding FERV) on a consolidated basis. As of March 31, 2024, the company’s consolidated gross fixed assets stood at ₹2,75,991 crores.

Additionally, under TBCB, POWERGRID acquired ten ISTS TBCB subsidiaries at an estimated cost of ₹26,872 crores. By the end of FY24, POWERGRID and its subsidiaries’ total transmission assets included 1,77,699 circuit kilometers of transmission lines, 278 substations, and 5,27,446 MVA of transformation capacity. The company maintained an average transmission system availability of 99.85% during FY24.