New Delhi: State-owned Power Grid Corporation announced its financial results for the fiscal year ended March 2024, showcasing significant growth with a consolidated Profit After Tax (PAT) of ₹15,573 crore and a Total Income of ₹46,913 crore.
In the fourth quarter of FY24 alone, the state-run ‘Maharatna’ company reported a standalone PAT of ₹4,128 crore and a total income of ₹12,254 crore. Consolidated figures for the quarter were slightly higher, with a PAT of ₹4,166 crore and total income of ₹12,305 crore.
Reflecting its strong financial performance, Power Grid declared a final dividend of 27.50 per cent or ₹2.75 per share of a face value of ₹10, in addition to the first and second interim dividends totaling ₹8.50 per share already paid during FY24. This brings the total dividend for the year to ₹11.25 per share, marking a 1.69 per cent increase over the previous year’s dividend, adjusted for the bonus issue.
Throughout the fiscal year, Power Grid along with its subsidiaries significantly enhanced their infrastructure capabilities, adding 19,720 MVA of transformation capacity, six sub-stations, and extending their transmission lines by 4,036 circuit kilometers. The company also successfully commissioned five Tariff Based Competitive Bidding (TBCB) subsidiaries, including Power Grid Ramgarh Transmission Limited and POWERGRID Bikaner Transmission System Limited.
The company’s capital investments for FY24 stood at ₹12,500 crore with assets worth ₹7,618 crore capitalized (excluding FERV) on a consolidated basis. As of March 31, 2024, Power Grid’s Gross Fixed Assets on a consolidated basis reached ₹2,75,991 crore.
Additionally, under Tariff based competitive bidding, Power Grid acquired 10 ISTS TBCB subsidiaries with an estimated cost of approximately ₹26,872 crore. By the end of FY24, the total transmission assets of POWERGRID and its subsidiaries included 1,77,699 circuit kilometers of transmission lines, 278 substations, and a transformation capacity of 5,27,446 MVA.
The company maintained an average transmission system availability of 99.85 per cent during FY24, underlining its commitment to ensuring reliable and efficient power transmission across the nation.
