Power Grid Corp fiscal 2021 profit increases 9% to Rs 12,036 crore

Power Grid Corporation of India Ltd has posted total income of Rs 40,824 crore and profit after tax of Rs 12,036 crore on consolidated basis for the financial year ended March, registering year-on-year growth of 6 per cent and 9 per cent.

On a standalone basis, the maharatna public sector undertaking under Ministry of Power achieved total income of Rs 40,527 crore and profit after tax of Rs 11,936 crore, marking a growth of 6 per cent and 10 per cent.

For the fourth quarter (January to March 2021), the total income and profit after tax on consolidated basis are Rs 10,816 crore and Rs 3,526 crore. On standalone basis, the total income and profit after tax are Rs 10,705 crore and Rs 3,516 crore respectively.

During the financial year 2020-21, the company incurred a capital expenditure of Rs 11,284 crore and capitalised assets worth Rs 21,467 crore on consolidated basis. Powergrid's gross fixed assets on a consolidated basis stood at Rs 2.41 lakh crore as on March 31 as against Rs 2.27 lakh crore last year.

The company maintained average transmission system availability of 99.76 per cent in FY21.

For the first time, the board of directors has recommended issuance of common shares as bonus shares in the ratio of 1:3 to shareholders.

The company has proposed a final dividend of 30 per cent (Rs 3 per share on a face value of Rs 10 each) in addition to first and second interim dividends aggregating to 90 per cent (Rs 9 per share on a face value of Rs 10 each) already paid for the financial year 2020-21.

The total dividend for the year thus amounts to Rs 12 per share compared to Rs 10 per share paid for the previous year.

Total transmission assets of Powergrid and its subsidiaries stand at 1.69 lakh circuit km of transmission lines and 4.37 lakh mega volt-amp of transformation capacity.