Final dividend of Rs 2.75 per equity share proposed
Team News Riveting
New Delhi, May 22
Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, Government of India, has announced its financial results for the period ending Q4FY24 and FY24.
For Q4FY24, on standalone basis, the company has reported a Profit After Tax of Rs 4,128 crore and Total Income of Rs 12,254 crore. On consolidated basis, the company has reported a PAT of Rs 4,166 crore and Total Income of Rs 12,305 crore.
For FY24, on standalone basis, the company posted PAT of Rs 15,475 crore and Total Income (including discontinued operations) of Rs 46,215 crore. On consolidated basis, the company posted PAT of Rs 15,573 crores and Total Income of Rs 46,913 crore.
The Company has proposed a final dividend of 27.50 per cent (Rs 2.75 per share on a face value of Rs 10 each) in addition to first and second interim dividends of Rs 8.50 per share already paid for the FY24. The total dividend for the year thus amounts to Rs 11.25 per share which is 1.69 per cent higher than that of previous year total dividend, adjusted of bonus issue.
In FY24, the Company along with its subsidiaries added 19,720 MVA transformation capacity, 6 sub-stations and 4,036 circuit kilometres of transmission lines. POWERGRID has successfully commissioned its 5 Tariff Based Competitive Bidding (TBCB) subsidiaries i.e POWERGRID Ramgarh Transmission Limited, POWERGRID Bikaner Transmission System Limited, POWERGRID Meerut Simbhavali Transmission Limited, POWERGRID Gomti Yamuna Transmission Limited and POWERGRID Neemuch Transmission System Limited.
During FY24, the Company incurred a Capital Expenditure of Rs 12,500 crore and Capitalized assets worth Rs 7,618 crore (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on consolidated basis stood at Rs 2,75,991crore as on March 31, 2024.
In FY24, under Tariff based competitive bidding, POWERGRID has acquired 10 ISTS TBCB subsidiaries with an estimated cost of approx. Rs 26,872 crore.
At the end of FY24, the total transmission assets of POWERGRID and its subsidiaries stood at 1,77,699 circuit kilometres of transmission lines, 278 substations and 5,27,446 MVA of transformation capacity.
POWERGRID maintained an average transmission system availability of 99.85 per cent during FY24.
