Power Grid Posts Profit After Tax of ₹ 3,801 Cr. for Q1 FY23 : CMD PGCIL

New Delhi, 10 August 2022 : Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced on consolidated basis, total income of ₹11,169 crore for Q1FY23, which is 7% higher compared to ₹10,392 crore in the Q1 of the previous year.

The PAT for Q1FY23 on a consolidated basis is ₹3,801 crore, which is 14% over Q1 FY22 (excluding exceptional items) on comparable basis. In Q1 FY22, PAT of ₹5,998 crore included an exceptional item of ₹3,014 crore (₹2,657 crore net of tax) on account of monetization of assets.

The Company incurred a Capital Expenditure of ₹1,482 crore and capitalized assets worth ₹1,345 crore (excluding FERV) on consolidated basis during Q1FY23. The Company’s Gross Fixed Assets on a consolidated basis stood at ₹2,64,838 crore as on June 30, 2022.

The Company has added a new 765/400/220 kV Bhuj-II GIS sub-station along with augmentation of transformation capacity at Bhadla and Fatehgarh to facilitate evacuation of renewable energy generation. The total transmission assets of POWERGRID and its subsidiaries at the end of the quarter stood at 1,72,662 ckm of transmission lines, 267 substations and 4,85,777 MVA of transformation capacity.

With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.79% for Q1 FY23.

The company acquired two TBCB subsidiaries viz Khetri – Narela Transmission Limited and Mohanlalganj Transmission Limited during Q1 FY23

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