Power Grid Corporation of India Limited (POWERGRID), a Maharatna Company under the Ministry of Power, Government of India, has announced its financial results for the fiscal year 2022-23 (FY23). The company reported a Profit After Tax (PAT) of ₹15,417 crore and a total income of ₹46,606 crore, representing a year-on-year (YoY) growth of 11% and 9% respectively, excluding exceptional items, compared to FY22.
In the fourth quarter (Q4) of FY23, POWERGRID posted a consolidated PAT of ₹4,320 crore, a 4% increase over Q4 FY22. The total income on a consolidated basis for Q4 FY23 rose by 13% to ₹12,557 crore, compared to ₹11,068 crore in Q4 FY22.
POWERGRID has proposed a final dividend of 47.50% (₹4.75 per share on a face value of ₹10/- each) in addition to the first and second interim dividends of ₹10/- per share already paid for FY23. The total dividend for the year amounts to ₹14.75 per share, which is the same as the previous year.
During FY23, POWERGRID invested ₹9,212 crore in capital expenditure and capitalized assets worth ₹7,413 crore (excluding FERV) on a consolidated basis. The company’s gross fixed assets on a consolidated basis stood at ₹2,70,107 crore as of March 31, 2023, compared to ₹2,62,726 crore as of March 31, 2022.
In FY23, POWERGRID and its subsidiaries added 24,900 MVA transformation capacity, 7 sub-stations, and 1,676 ckm transmission lines. The company successfully commissioned four transmission projects through its Transmission Business Competitive Bidding (TBCB) subsidiaries, namely POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, POWERGRID Medinipur-Jeerat Transmission Limited, and POWERGRID Bhuj Transmission Limited.
As of March 31, 2023, POWERGRID and its subsidiaries had a total of 1,74,110 ckm of transmission lines, 272 sub-stations, and 4,99,360 MVA of transformation capacity.
During the year, POWERGRID acquired one Intra State Transmission System and eleven Inter State Transmission System TBCB subsidiaries with an estimated cost of approximately ₹9,500 crore.
The company maintained a high average transmission system availability of over 99.80% in FY23. It achieved an average transmission system availability of 99.82%. POWERGRID has been ranked in the first quadrant for both Line and Substation Maintenance in the International Transmission Operation and Maintenance Study (ITOMS) for 2021-22, indicating efficient asset maintenance at low cost with high performance levels.
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