Home / Companies / Company Results /  PowerGrid's Q3 net profit declines 2% to 3,293 crore

New Delhi: State-run PowerGrid Corporation of India Ltd on Wednesday reported a 2.2% decline in its consolidated net profit at 3,292.97 crore for the quarter-ended December.

During the same period of the last financial year (FY21), the company had reported a net profit of 3,367.71 crore.

The company, however, registered a 3% increase in its revenue from operations at 10,446.88 crore during the third quarter of FY22, compared to 10,142.48 crore in the corresponding period of FY21.

The power major's total expenditure during the period under review stood at 6,460.20 crore, 1.7% higher than 6,348.51 crore registered during the year ago period.

A company statement said that its board of directors have declared an interim dividend of 5.50 per equity share of 10 for FY 2021-22. This is in addition to interim dividend 7.00 per equity share (including special dividend of 3.00 per equity share) for the FY 2021-22 paid in January 2022.

During the quarter, the company added 1,468 circuit km (ckm) transmission lines and 18,256 MVA transformation capacity. The Inter-Regional (IR) power transfer capacity has been enhanced by 1500 MW. Further All the elements of PowerGrid Khetri Transmission System Limited and PowerGrid Mithilanchal Transmission Limited, both TBCB subsidiaries, have been fully commissioned, it said.

At the end of Q3FY22, the total transmission assets of PowerGrid and its subsidiaries stood at 1,72,190 ckm of transmission lines, 264 substations and 4,69,600 MVA of transformation capacity.

ABOUT THE AUTHOR

Rituraj Baruah

Rituraj Baruah is a senior correspondent at Mint, reporting on housing, urban affairs, small businesses and energy. He has reported on diverse sectors over the last six years including, commodities and stocks market, insolvency and real estate. He has previous stints at Cogencis Information Services, Indo-Asian News Service (IANS) and Inc42.
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