PAT at Rs 5998 crore

Total income rises by 6% to Rs 10392 crore

y-o-y growth of 193% and 6 % respectively.

PowerGrid Q1FY22 PAT at Rs 5998 crore

PowerGrid Q1FY22 PAT at Rs 5998 crore

Thesynergyonline Corporate Bureau

GURUGRAM, AUGUST 10 : Power Grid Corporation of India (PowerGrid), a 'Maharatna' Company under Ministry of Power, Government of India (GoI), has delivered a robust quarterly performance.

In Q1FY22, the company reported PAT of Rs 5,998 crore and total Income of R s 10,392 crore on consolidated basis, registering a year-over-year (y-o-y ) growth of 193 per cent and 6 per cent respectively.

On standalone basis the company has posted PAT and total Income of Rs 6,085 crore and Rs 10,285 crore respectively, registering a y-o-y growth of 207 per cent and 7 per cent respectively for Q1FY22.

In the quarter, PowerGrid completed the first asset monetisation by a CPSE through the Infrastructure Investment Trust (InvIT) route. PGInvIT, sponsored by PowerGrid came out with an Initial Public Offer of its Units comprising Fresh Issue of Rs 4,993 crore and Offer for Sale by PowerGrid amounting to Rs 2,742 crore and got listed on BSE & NSE on May 14, 2021.

The company transferred 74 per cent shares in the 5 SPVs to the InvIT and the profit on sale of its stake in the five SPVs amounting to Rs 3,014 crore (on Consolidated Basis) was recognized as an exceptional income.

The company incurred a Capital Expenditure of Rs 1,110 crore and capitalized assets worth Rs 5,642 crore (excluding FERV) on consolidated basis. PowerGrid's Gross Fixed Assets on consolidated basis stood at Rs 2,47,421 crore as on June 30, 2021.

With the use of state-of-the-art maintenance techniques, automation and digitization, PowerGrid maintained average transmission system availability of 99.77 per cent for Q1FY22.

In the quarter, 1,716 ckm transmission lines and 9,400 MVA transformation capacity has been added, which include commissioning of cross-border interconnections with neighbouring countries - 400kV D/C Jigmeling (Bhutan) – Alipurduar (India) with Bhutan and 400kV D/C Baharampore (India)-Bheramara (Bangladesh) ckt-I of 2nd D/C line (Indian portion) with Bangladesh.

Further, with commissioning of ± 320kV Pugalur - Thrissur HVDC (1000MW) VSC Monopole-I during the quarter, Pugalur - Thrissur 2000 MW VSC based HVDC System has been fully commissioned. This system enables power transfer of 2000MW from WR (Chhattisgarh) to SR (Kerala) through Raigarh – Pugalur –Thrissur HVDC link.

Other major transmission elements commissioned include 400kV D/C Wardha-Aurangabad transmission line.

All elements under TBCB subsidiaries, POWERGRID Ajmer-Phagi Transmission Limited and POWERGRID Jawaharpur Firozabad Transmission Limited, 400kV D/C Sitamarhi-Motihari transmission line, 400kV D/C Sitamarhi-Darbhanga transmission line have been completed.

In the quarter, Ministry of Power, Government of India transferred 220 kV Srinagar-Drass-Kargil-Khaltsi-Leh Transmission System to PowerGrid.

The project which was initially executed by POWERGRID on consultancy basis under PMRP Scheme was re-designated as Inter-State Transmission System (ISTS). The transfer is effective from the date of formation of the two UTs of J&K and Ladakh.

At the end of Q1FY22, the total transmission assets of POWERGRID and its subsidiaries stood at 1,68,457 ckm of transmission lines, 259 substations and 4,40,310 MVA of transformation capacity.


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