POWERGRID Reports Strong Financial Performance for Q4FY24 and FY24, Proposes Final Dividend

For the full fiscal year FY24, POWERGRID achieved a standalone PAT of ₹15,475 crores and a Total Income (including discontinued operations) of ₹46,215 crores.

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 Q4FY24 and FY24. For Q4FY24, the company reported a standalone Profit After Tax (PAT) of ₹4,128 crores and a Total Income of ₹12,254 crores. On a consolidated basis, the PAT was ₹4,166 crores, with a Total Income of ₹12,305 crores.

For the full fiscal year FY24, POWERGRID achieved a standalone PAT of ₹15,475 crores and a Total Income (including discontinued operations) of ₹46,215 crores. On a consolidated basis, the PAT was ₹15,573 crores, and the Total Income was ₹46,913 crores.

POWERGRID has proposed a final dividend of 27.50% (₹2.75 per share on a face value of ₹10 each), in addition to the first and second interim dividends of ₹8.50 per share already paid for FY24. This brings the total dividend for the year to ₹11.25 per share, a 1.69% increase compared to the previous year's total dividend, adjusted for the bonus issue.

In FY24, POWERGRID and its subsidiaries added 19,720 MVA transformation capacity, 6 substations, and 4,036 circuit kilometres of transmission lines. The company successfully commissioned five Tariff Based Competitive Bidding (TBCB) subsidiaries: 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 ₹12,500 crores and capitalized assets worth ₹7,618 crores (excluding FERV) on a consolidated basis. As of March 31, 2024, POWERGRID's Gross Fixed Assets on a consolidated basis stood at ₹2,75,991 crores.

Under tariff-based competitive bidding, POWERGRID acquired 10 ISTS TBCB subsidiaries with an estimated cost of approximately ₹26,872 crores in FY24. At the end of the fiscal year, the total transmission assets of POWERGRID and its subsidiaries included 1,77,699 circuit kilometres of transmission lines, 278 substations, and 5,27,446 MVA of transformation capacity. POWERGRID maintained an impressive average transmission system availability of 99.85% during FY24.