FY2019-20
PowerGrid Q3 net profit rises 15% to Rs2,673 crore
PowerGrid Q3 FY20 net profit rises 15% to Rs2,673 crore PowerGrid Q3 net profit rises 15% to Rs2,673 crore  

Total income also grows by 7% to Rs 9,497 crore

Thesynergyonline Energy Bureau

NEW DELHI, JANUARY 31 :

PowerGrid Corporation of India (PowerGrid), a 'Maharatna' Company under Ministry of Power, GoI and India's 'Central Transmission Utility (CTU), posted a Profit After Tax of Rs 2,673 crore and Total Income of Rs 9,497 crore for the third quarter (Oct-Dec,2019)on standalone basis.

On a consolidated basis, the company has posted Profit After Tax and Total Income of Rs 2,672crore and Rs 9,541 crore respectively for the third quarter (Oct-Dec,2019), registering an increase of about 14 per cent and 7 per cent respectively with respect to corresponding period of FY19.

For nine-month period (Apr-Dec, 2019), the Profit After Tax (PAT)and Total Income on standalone basis are Rs 7,629 crore and Rs 27,908 crore respectively, which are about 11 per cent and 7 per cent higher with respect to corresponding period of FY19, while on consolidated basis, the Profit After Tax and Total Income are Rs 7,746 crore and Rs 28,163 crore are respectively, registering a growth of 11 per cent and 8 per cent respectively.

PowerGrid Q3 FY 2019-20 results

Capital expenditure and capitalization during the quarter was about Rs 3,953 crore and Rs 5,230 crore (excluding FERV) respectively, on a consolidated basis. For the nine month period (Apr-Dec, 2019) capital expenditure and capitalization was about Rs 10,485 crore and Rs 10,917 crore (excluding FERV) on a consolidated basis. - PowerGrid financial statement for FY2019-20

The company's Gross Fixed Assets on a consolidated basis stood at about Rs 218,838 crore as on Dec 31, 2019.

The company has targeted a capital expenditure of Rs 15,000 crore for FY2019-20.

The company'ss physical assets (incl. subsidiaries) as on Dec 31, 2019 include about 1,61,860ckm of transmission lines, 248 Substations with transformation capacity of about 3,99,890 MVA.