Powergrid posts Rs3,117-cr after-tax profit for Q2FY21

Maharatna public sector undertaking Power Grid Corporation of India Limited (Powergrid), and the central transmission utility of the country, has posted an after-tax (net) profit of Rs 3,094 crore and a total revenue of Rs9,831 crore on consolidated basis for fiscal second quarter ended 30 September 2020-21. 

On a standalone basis, the company posted PAT and total revenue of Rs3,117 crore and Rs9,890 crore, respectively, for Q2FY21, recording an increase of about 23 per cent and 8 per cent, respectively, compared with the corresponding period of FY20.
For the six-month period (April-September 2020-21),  PAT and total irevenue on a consolidated basis stood at Rs5,142 crore and Rs19,648 crore, respectively, which are about 1 per cent and 6 per cent higher with respect to the corresponding period of FY20, while on standalone basis, PAT and total revenue stood at Rs5,097 crore and Rs19,511 crore, respectively, showing a growth of 3 per cent and 6 per  cent, respectively.
The company incurred a capital expenditure of about Rs3,100 crore and capitalized assets worth Rs10,693 crore (excluding FERV) on 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 1, 765 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 1,500 MW from Western Region to 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 of POWERGRID.
Powegrid’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.
With the adoption of latest technological tools and techniques, enhanced use of automation and digital solutions, Powergrid maintained average transmission system availability of 99.83 per cent during H1FY21.