Industry News

POWERGRID’s FY2019-20 Profit After Tax Rises 10% to Rs. 11,059 Crore; Total Income Increases 8% to Rs. 38,671 crore

KJ Staff
KJ Staff

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, has posted a Profit After Tax of ₹11,059 crore and Total Income of ₹38,671 crore on consolidated basis for the financial year ended March 31, 2020. On standalone basis, the Company posted Profit After Tax and Total Income of ₹10,811 crore and ₹38,318 crore respectively for FY20 registering an increase of 9% & 8% respectively with respect to FY 2018-19.

For the quarter (Jan-March, 2020), the Profit After Tax and Total Income on standalone basis are ₹3,183 crore and ₹10,410 crore respectively, i.e. about 4% and 8% higher with respect to corresponding period of FY2018-19, while on consolidated basis, the Profit After Tax and Total Income are ₹3,313 crore and ₹10,508 crore are respectively, both registering a growth of 8% over the corresponding period of the previous financial year.

For the financial year FY2019-20, the Company incurred a Capital Expenditure of about ₹15,313 crore and capitalised assets worth ₹ 18,234 crore (excluding FERV) on consolidated basis. 

POWERGRID’s Gross Fixed Assets on a consolidated basis stood at about ₹2,27,543 crore as on March 31, 2020 as against ₹2,07,215 crore as on March 31, 2019.

The Company has proposed a final dividend of 40.40% (₹4.04 per share on a face value of ₹ 10/- each) in addition to interim dividend of 59.60% (₹5.96 per share on a face value of ₹ 10/- each) already paid for the financial year 2019-20, thereby taking the total dividend for the year to Rs.10 per share.

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Major transmission elements commissioned during FY2019-20 include Pole-III & IV of ±800kV Champa-Kurukshetra HVDC enhancing the total Inter-Regional Power transfer capacity by 3,000MW. Some other important transmission lines and substations commissioned during the year include 400kV D/C Madhugiri (Tumkur)-Yela- hanka, 765kV D/C Moga-Bikaner, 765kV D/C Bhadla-Bikaner, 765kV D/C Ajmer-Bikaner, 400kV D/C Edamon (KSEB)-Muvattupuzha (PG), 765kV D/C Vemagiri- Chilakaluripeta, 765kV D/C Chilakaluripeta-Cuddapah transmission lines and substations at Bhadla, Bikaner and Chilakaluripeta.

POWERGRID’s TBCB subsidiary viz., POWERGRID Southern Interconnector Transmission System Limited became fully operational in FY2019-20. With this, eight POWERGRID TBCB subsidiaries have become fully operational. During the year, POWERGRID secured seven TBCB projects in both inter-State and intra-State segments.

With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.82% for 2019-20.

As at the end of FY20, the total transmission assets of POWERGRID and its subsidiaries stood at 163,222 ckm of transmission lines, 248 substations and 409,898 MVA of transformation capacity.

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