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Power Grid posts PAT of Rs.3,117 crore for Q2

by BQ News Bureau
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Power Grid Corporation of India Limited (POWERGRID)  has posted a profit after tax (PAT) of Rs.3,094 crore and total income of Rs.9,831 crore on a consolidated basis for the second quarter in this fiscal. On a standalone basis, the company posted PAT and total income of Rs.3,117 crore and Rs.9,890 crore respectively for Q2FY21, registering an increase of about 23%  and 8% respectively with respect to the corresponding period of the last fiscal.

For a six-month period (H1FY21), the PAT and total income on a consolidated basis are Rs.5,142 crore and Rs.19,648 crore respectively, which are about 1% and 6% higher with respect to the corresponding period of FY20, while on a standalone basis, the PAT and total income are Rs.5,097 crore and Rs.19,511 crore respectively, registering a growth of 3% and 6% respectively.

The company incurred a capital expenditure of about Rs.3,100 crore and capitalised assets worth Rs.10,693 crore (excluding FERV) on a consolidated basis during Q2FY21.

During the quarter, POWERGRID commissioned Pole-1 of Bipole-I of the prestigious 6000 MW Raigarh – Pugalur HVDC system despite many challenges and lockdown restrictions encountered during COVID-19 pandemic along with the 1765 km long ±800 kV Raigarh – Pugalur HVDC transmission line traversing through five States, 400 kV D/c Pugalur – Arasur and 400 kV D/c Pugalur – Pugalur transmission lines. The commissioned elements will facilitate power flow of 1500 MW from Western Region to the Southern Region ensuring reliable and quality power supply.

Other major assets commissioned during the quarter are, 400 kV D/C NNTPS – Ariyalur TL, 400 kV D/C Banaskantha – Radhanesda TL and ICTs at Gorakhpur, Bhuj, Radhanesda, Raigarh and Pugalur substations.

POWERGRID’s physical assets along with its subsidiaries at the end of H1FY21 stood at 168,140 ckm of transmission lines, 252 substations and more than 419,800 MVA of transformation capacity.

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