New Delhi, May 22, 2024 : POWERGRID, a Maharatna CPSU under the Ministry of Power, has announced its financial results for FY24, reporting a Profit After Tax (PAT) of ₹15,573 crores and Total Income of ₹46,913 crores on a consolidated basis.
The company has proposed a final dividend of ₹2.75 per equity share, taking the total dividend for the year to ₹11.25 per share.
– Record Profit: POWERGRID reports a Profit After Tax (PAT) of ₹15,573 crores, a significant increase from the previous year.
– Total Income: The company achieves a Total Income of ₹46,913 crores, demonstrating its financial strength and stability.
– Dividend Announcement: A final dividend of ₹2.75 per equity share is proposed, taking the total dividend for the year to ₹11.25 per share, a 1.69% increase from the previous year.
– Transmission Assets: POWERGRID adds 19,720 MVA transformation capacity, 6 sub-stations, and 4,036 circuit kilometres of transmission lines, expanding its transmission assets.
– Successful Commissioning: The company successfully commissions 5 Tariff Based Competitive Bidding (TBCB) subsidiaries, a significant achievement in the power sector.
– Capital Expenditure: POWERGRID incurs a Capital Expenditure of ₹12,500 crores and capitalizes assets worth ₹7,618 crores, demonstrating its commitment to growth and development.
Conclusion:
In conclusion, POWERGRID’s impressive financial results for FY24 demonstrate the company’s strong performance and commitment to the power sector. With a significant increase in Profit After Tax and Total Income, the company’s financial strength and stability are evident. The addition of transmission assets and successful commissioning of TBCB subsidiaries further highlight POWERGRID’s growth and development.
The proposed final dividend and total dividend for the year are a testament to the company’s dedication to its shareholders. Overall, POWERGRID’s results showcase its position as a leading player in the power sector.”