POWERGRID reports growth of 40%

Guwahati: The Power Grid Corporation of India Limited (POWERGRID) has posted a consolidated profit after tax (PAT) of Rs 16,824 crore for the Financial Year 2022, registering a year-over-year (YoY) growth of 40%, an official release informed.

The 'Maharatna' Company, under the Ministry of Power, Government of India, also reported a total income of Rs 42,698 crore in FY 2022, representing a YoY increase of 5%.

The business posted a consolidated PAT of Rs 4,156 crore for the fourth quarter of FY22, representing an 18% rise over Q4FY21.

The overall income for Q4FY22 was Rs 11,068 crore, up from Rs 10,816 crore in the previous year's fourth quarter, it added.

As a result, the business has recommended a final dividend of 22.5 percent (Rs 2.25 per share on a face value of Rs 10 each), in addition to the 125 percent (Rs 12.5 per share on a face value of Rs 10 each) interim and special dividends previously paid for FY22, according to the announcement.

According to the company, the total dividend for the year is Rs 4.75 per share, down from Rs 9.75 per share (adjusted for Bonus Share) the previous year.

Meanwhile, POWERGRID Corporate Communications announced that it has completed the first asset monetisation by a CPSE using the Infrastructure Investment Trust (InvIT) method. On May 14, 2021, the firm-sponsored PGInvIT was listed on the BSE and NSE, and entire monetization was achieved.

Meanwhile, POWERGRID Corporate Communications announced that it has completed the first asset monetisation by a CPSE using the Infrastructure Investment Trust (InvIT) method. The business's sponsored PGInvIT was listed on the BSE and NSE on May 14, 2021, and the company monetized Rs 8370 crore during FY22.

During the fiscal year, the business additionally incurred capital expenditure of Rs 9,060 crore and capitalised assets at Rs 20,695 crore (excluding FERV).

On a consolidated basis, the company's Gross Fixed Assets amounted at Rs 2,62,726 crore on March 31, 2022, up from Rs 2,41,498 crore on March 31, 2021.

According to the announcement, the firm and its subsidiaries installed 43,500 MVA transformation capacity, 7 substations, and 5,450 ckm transmission lines in FY22, while the Indian component of new cross-border linkages with neighbouring countries (Bhutan and Bangladesh) was completed.

In order to improve the system, 7200 MW of Inter-Regional (IR) capacity was added throughout the year, bringing the National Grid's IR capacity to 1,12,250 MW at the end of FY22. POWERGRID and its subsidiaries have total transmission assets of 1,72,437 ckm of transmission lines, 265 substations, and 4,74,457 MVA of transformation capacity as of March 31, 2022.