Q1FY21

PowerGrid Q1FY21 results

PowerGrid PAT
at Rs 2,048 crore

Total income rises by 5% to Rs,817 crore ​‌
On standalone basis,
the company posted Profit After Tax (PAT)
and total Income of Rs 1,979 crore
and Rs 9,620 crore respectively for Q1FY21.

PowerGrid Q1FY21 results The letter T Celtic Script The Letter 't' from the Irish Language's Celtic Script. PowerGrid Q1FY21 results

PAT and total income

Thesynergyonline Corporate Bureau

NEW DELHI, AUGUST 11 : Power Grid Corporation of India Limited (PowerGrid), a 'Maharatna' Company under Ministry of Power, GoI and the 'Central Transmission Utility (CTU)' of India, has posted a Profit After Tax of Rs 2,048 crore and total income of Rs 9,817 crore on consolidated basis for Q1FY21.

On standalone basis

On standalone basis, the company posted Profit After Tax (PAT) and total Income of Rs 1,979 crore and Rs 9,620 crore respectively for Q1FY21.

PowerGrid Q1FY21 results

With the use of state-of-the-art maintenance techniques, automation and digitization, PowerGrid maintained average transmission system availability of 99.83% for Q1FY21. - PowerGrid statement

Rebate to DISCOMS

In the quarter the company recognized as an exceptional item, the one-time consolidated rebate of Rs 1,075 crore to DISCOMs / Power Departments of the States and Union Territories for passing on to the end-consumers on account of Covid-19 pandemic against the billing of Apr'20 & May'20. Excluding the impact of this one-time rebate, the Company's profit increased by 18% over the corresponding period of FY2019-20 on standalone basis.

Capital expenditure

For the quarter, the company incurred a capital expenditure of about Rs 1,906 crore and capitalized assets worth ₹1,184 crore (excluding FERV) on consolidated basis. PowerGrid's Gross Fixed Assets on a consolidated basis stood at about ₹2,28,856 crore as on June 30, 2020.

Commissioning

Major transmission elements commissioned in the quarter include 400kV D/C Hiriyur-Mysore line and ICTs at Meerut, Koteshwar and Balipara substations of POWERGRID. Further, long pending 400kV D/C Rajarhat-Gokarna transmission line was also commissioned in July'2020

TBCB subsidiaries

Eight TBCB subsidiaries were operational and eleven TBCB subsidiaries were under implementation as at the end of June 30, 2020

Transmission assets

As at the end of Q1FY21, the total transmission assets of PowerGrid and its subsidiaries stood at 163,695 ckm of transmission lines, 248 substations and more than 413,950 MVA of transformation capacity.