Power Grid Corporation of India (Power Grid) on Friday reported a 2.5% decline in its standalone net profit to Rs 4,214.40 crore in the quarter ending March, as per its filing of financial results with the BSE.
The state-run company, which is into transmission, distribution and trading of energy, saw a 12.5% hike in its revenue from operations to Rs 11,494.90 crore in Q4FY23 y-o-y. Its shares closed at Rs 233.80, down 0.64%, on BSE.
For full FY23, Power Grid
The Maharatna company under the ministry of power proposed a final dividend of 47.50% (Rs 4.75 per share on a face value of Rs 10 each) in addition to first and second interim dividend of Rs 10 per share already paid for FY23.
Power Grid incurred a capital expenditure of Rs 9,212 crore and capitalized assets worth Rs 7,413 crore (excluding FERV) on consolidated basis during the financial year. Its gross fixed assets on a consolidated basis stood at Rs 2,70,107 crore as on March 31 as against Rs 2,62,726 crore as on March 31, 2022.
In FY23, the company along with its subsidiaries added 24,900 MVA transformation capacity, seven sub-stations and 1,676 ckm transmission lines.
As on March 31, 2023, the total transmission assets of Power Grid and its subsidiaries stood at 1,74,110 ckm of transmission lines, 272 sub-stations and 4,99,360 MVA of transformation capacity.
During the year, it acquired one Intra State Transmission System and 11 Inter State Transmission System TBCB subsidiaries with an estimated cost of about Rs 9,500 crore.