POWERGRID PAT Jumps 11% At ₹15,417 Crore, Total Income Increases By 9% To ₹46,606 Crore For FY23
POWERGRID added 24,900 MVA transformation capacity, 07 sub-stations and 1,676 ckm transmission lines in FY23
The Power Grid Corporation of India Limited (POWERGRID) has released its financial results for the fiscal year 2022-23 (FY23).
Here are the key highlights:
Profit After Tax (PAT): POWERGRID achieved a PAT of ₹15,417 crore, representing a year-on-year (YoY) growth of 11% compared to FY22 (excluding exceptional items).
Total Income: The company recorded a total income of ₹46,606 crore for FY23, indicating a YoY growth of 9% compared to FY22 (excluding exceptional items).
Q4 FY23 Performance: In the fourth quarter of FY23, POWERGRID posted a consolidated PAT of ₹4,320 crore, reflecting 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 for Q4 FY22.
Dividends: POWERGRID 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, the same as the previous year.
Capital Expenditure: The company incurred a capital expenditure of ₹9,212 crore and capitalized assets worth ₹7,413 crore (excluding FERV) on a consolidated basis during FY23. The 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.
Transmission Capacity Expansion: In FY23, POWERGRID and its subsidiaries added 24,900 MVA transformation capacity, 7 sub-stations, and 1,676 ckm (circuit kilometers) of transmission lines. The company successfully commissioned four Transmission Business Corporation (TBC) subsidiaries, namely POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, POWERGRID Medinipur-Jeerat Transmission Limited, and POWERGRID Bhuj Transmission Limited.
Transmission Assets: As of March 31, 2023, the total transmission assets of POWERGRID and its subsidiaries comprised 1,74,110 ckm of transmission lines, 272 sub-stations, and 4,99,360 MVA of transformation capacity.
Acquisition of Transmission Systems: During the year, POWERGRID acquired one Intra-State Transmission System and eleven Inter-State Transmission System TBC subsidiaries, with an estimated cost of approximately ₹9,500 crore.
Transmission System Availability: POWERGRID maintained a high average transmission system availability of over 99.80% in FY23. The average transmission system availability for the fiscal year was 99.82%.
International Ranking: POWERGRID was ranked in the first quadrant for both Line and Substation Maintenance in the International Transmission Operation and Maintenance Study (ITOMS) for 2021-22. This ranking indicates that asset maintenance was carried out at a low cost with high performance levels.