POWERGRID posts Profit After Tax (PAT) of ₹ 5998 crore for Q1FY22.

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry
of Power, GoI, has delivered a robust quarterly performance. During Q1FY22, the Company reported
PAT of ₹ 5,998 crore and Total Income of ₹ 10,392 crore on consolidated basis registering
a YoY growth of 193% and 6% respectively. On standalone basis, the Company has posted PAT
and Total Income of ₹ 6,085 crore and ₹ 10,285 crore respectively registering a YoY growth of
207% and 7% respectively for Q1FY22.
During the quarter, POWERGRID completed the first asset monetisation by a CPSE through the
Infrastructure Investment Trust (InvIT) route. PGInvIT, sponsored by POWERGRID, came out with
an Initial Public Offer of its Units comprising Fresh Issue of ₹ 4,993 crore and Offer for Sale by
POWERGRID amounting to ₹ 2,742 crore and got listed on BSE & NSE on May 14, 2021. The
company transferred 74% shares in the 5 SPVs to the InvIT and the profit on sale of its stake in
the five SPVs amounting to ₹ 3,014 crore (on Consolidated Basis) was recognized as an exceptional
income.
The Company incurred a Capital Expenditure of ₹ 1,110 crore and capitalized assets worth ₹
5,642 crore (excluding FERV) on consolidated basis. POWERGRID’s Gross Fixed Assets on consolidated
basis stood at ₹ 2,47,421 crore as on June 30, 2021.
With the use of state-of-the-art maintenance techniques, automation and digitization, POWERGRID
maintained average transmission system availability of 99.77% for Q1FY22.
During the quarter, 1,716 ckm transmission lines and 9,400 MVA transformation capacity has been
added, which include commissioning of cross-border interconnections with neighbouring countries
– 400kV D/C Jigmeling (Bhutan) – Alipurduar (India) with Bhutan and 400kV D/C Baharampore
(India)-Bheramara (Bangladesh) ckt-I of 2nd D/C line (Indian portion) with Bangladesh.
Further, with commissioning of ± 320kV Pugalur – Thrissur HVDC (1000MW) VSC Monopole-I during
the quarter, Pugalur – Thrissur 2000 MW VSC based HVDC System has been fully commissioned.
This system enables power transfer of 2000MW from WR (Chhattisgarh) to SR (Kerala)
through Raigarh – Pugalur –Thrissur HVDC link. Other major transmission elements commissioned
include 400kV D/C Wardha-Aurangabad transmission line.
All elements under TBCB subsidiaries, POWERGRID Ajmer-Phagi Transmission Limited and
POWERGRID Jawaharpur Firozabad Transmission Limited, 400kV D/C Sitamarhi-Motihari transmission
line, 400kV D/C Sitamarhi-Darbhanga transmission line have been completed.
During the quarter, Ministry of Power, Government of India transferred 220 kV Srinagar-Drass-
Kargil-Khaltsi-Leh Transmission System to POWERGRID. The project which was initially executed
by POWERGRID on consultancy basis under PMRP Scheme was re-designated as Inter-State
Transmission System (ISTS). The transfer is effective from the date of formation of the two UTs of
J&K and Ladakh.
At the end of Q1FY22, the total transmission assets of POWERGRID and its subsidiaries stood at