GG News Bureau
New Delhi, 18th June. Power Grid Corporation of India Limited (POWERGRID), under the Ministry of Power, has posted a total Income of ₹ 40,824 crores and a Profit After Tax of ₹12,036 crores on a consolidated basis for the financial year ended March 31, 2021, registering a growth of 6 % and 9% respectively over corresponding amounts for FY 2019-20. On a standalone basis, the Company achieved a Total Income of ₹ 40,527 crores and Profit After Tax (PAT) of ₹ 11,936 crores registering a growth of 6% and 10% respectively over the previous financial year.
Power Grid for the fourth quarter (Jan-March, 2021), the Total Income and Profit After Tax on a consolidated basis are ₹ 10,816 crores and ₹ 3,526 crores respectively, while on a standalone basis, the Total Income and Profit After Tax are ₹ 10,705 crores and ₹3,516 crore respectively.
During the financial year FY 2020-21, the Company incurred a Capital Expenditure of ₹ 11,284 crores and capitalized assets worth ₹ 21,467 crores (excluding FERV) on a consolidated basis. POWERGRID’s Gross Fixed Assets on a consolidated basis stood at ₹ 2,41,498 crore as on March 31, 2021 as against ₹ 2,27,543 crore as of March 31, 2020.
With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID maintained average transmission system availability of 99.76% for FY 2020-21.
For the first time, the POWERGRID Board has recommended issuance of common shares of the Company as bonus shares in the ratio of 1:3 to its shareholders.
The Company has proposed a final dividend of 30% (₹ 3 per share on a face value of ₹ 10/- each) in addition to first and second interim dividends aggregating to 90% (₹ 9 per share on a face value of ₹ 10/- each) already paid for the financial year 2020-21. The total dividend for the year thus amounts to ₹12 per share compared to ₹10 per share paid for the previous year.
In FY 2020-21, major transmission elements commissioned include Bipole-I of ±800 kV Raigarh – Pugalur HVDC system enhancing total Inter-Regional Power transfer capacity by 3,000 MW between Southern Region and Western Region, and state-of-the-art VSC technology based ±320 kV Monopole-II(1000MW) of Pugalur (Tamilnadu)-Thrissur(Kerala) HVDC system.
During the year, POWERGRID acquired the balance (74%) stake in Jaypee Powergrid Limited and assets of Srinagar- Leh Transmission System was transferred to POWERGRID by the Government of India.
POWERGRID has been a successful bidder in all the five TBCB (ISTS) projects with an aggregate annual levelized tariff of ₹ 515.84 crore in FY 2020-21.