Power Grid posts 6% growth in FY21 PAT at Rs 12,036 cr; net income rises 9%

State owned power transmission company Power Grid Corporation of India Limited (PGCIL) saw its profit after tax rise by 6 percent to Rs 12,036 crore, during the financial year 2020-21. 

The net income of the company also increased by 9 per cent to Rs 40,824 crore during the same period. 

For the quarter ending March, 2021, the total Income and profit after tax stood at Rs 10,816 crore and Rs 3,526 crore respectively.

The company in a statement to the bourses said it incurred a capital expenditure of Rs 11,284 crore and capitalized assets worth Rs 21,467 crore during FY21. 

The average transmission system availability of PGCIL's assets stood at 99.76 per cent for FY 2020-21. 

For the first time, PGCIL's Board has recommended issuance of common shares of the Company as bonus shares in the ratio of 1:3 to its shareholders, the company said. 

PGCIL Board 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 ₹12 per share compared to ₹10 per share paid for the previous year, it said. 

At the end of FY2021, the total transmission assets of PGCIL and its subsidiaries stood at 1,69,829 ckm of transmission lines and 4,37,223 MVA of transformation capacity registering a year on year growth of 4 per cent and 7 per cent respectively.