Powergrid posts Profit After Tax of ₹ 3,376 crore for Q2 FY’22
Total income rises by 7% to ₹ 10,515 crore
New Delhi, NewsonRadar Bureau, Nov. 10: Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI, has announced unaudited financial results for Q2FY22 ending 30th September 2021.
The company has reported PAT of ₹ 3,376.38 crore and Total Income of ₹ 10,514.74 crore on consolidated basis registering a YoY growth of 9% and 7% respectively. On standalone basis, the Company has posted PAT and Total Income of ₹ 3,338.27 crore and ₹ 10,472.00 crore respectively registering a YoY growth of 7% and 6% respectively during Q2FY22.
For six-month period (H1FY22), the PAT and Total Income on consolidated basis are ₹ 9,374.66 crore and ₹ 20,906.35 crore respectively, which are about 82% and 6% higher with respect to the corresponding period of FY21, while on standalone basis, the PAT and Total Income are ₹ 9,423.68 crore and ₹ 20,757.38 crore respectively, registering a growth of 85% and 6% respectively. The Company incurred a Capital Expenditure of ₹ 1,939 crore and capitalized assets worth ₹ 7,633 crore
(excluding FERV) on consolidated basis during Q2FY22. POWERGRID’s Gross Fixed Assets on consolidated basis stood at ₹ 2,54,997 crore as on September 30, 2021.
During the quarter, 2,100 ckm transmission lines and 14,000 MVA transformation capacity has been added. The Inter-Regional (IR) power transfer capacity has been enhanced by 5700 MW, with the commissioning of 765 kV D/c Vindhyachal -Varanasi line (4200MW) and Bipole-II (Pole 3) 1500 MW, ±800 kV HVDC Raigarh-Pugalur link. The IR capacity of National Grid stands at 1,10,750 MW at the end of Q2-FY22. All the elements under TBCB subsidiaries, POWERGRID Varanasi Transmission System Limited and POWERGRID Fatehgarh Transmission Limited have been fully commissioned.
At the end of Q2FY22, the total transmission assets of POWERGRID and its subsidiaries stood at 1,70,724 ckm of transmission lines, 262 substations and 4,54,350 MVA of transformation capacity.
POWERGRID maintained average transmission system availability of 99.82 % during H1FY22 compared to 99.83% in the corresponding period of the previous year.