Power Grid's profit up 9% at `3,376 cr in Q2 FY22

Hyderabad: The Power Grid Corporation of India Ltd, a maharatna company under Union Ministry of Power, has reported 9 per cent rise year-on-year (YoY) in profit after tax (PAT) at Rs 3,376.38 crore in the quarter (Q2) ending September of financial year 2021-22. On consolidated basis, the company's total income increased to 7 per cent YoY to Rs 10,514.74 crore during Q2 of FY2021-22.

The company has incurred a capital expenditure of Rs 1,939 crore and capitalised assets worth Rs 7,633 crore, excluding foreign exchange rate variation (FERV) during Q2 FY22. Power Grid's gross fixed assets on consolidated basis stood at Rs 2.55 crore by Q2 FY22. In the quarter, 2,100 ckm transmission lines and 14,000 MVA transformation capacity has been added.

"The inter-regional (IR) power transfer capacity has been enhanced by 5,700 MW, with the commissioning of 765 kV D/c Vindhyachal -Varanasi line (4,200MW) and Bipole-II (Pole 3) 1500 MW, ±800 kV HVDC Raigarh-Pugalur link. The IR capacity of National Grid stands at 1.1 lakh MW at the end of Q2FY22," the company said in a statement.

All the elements under TBCB subsidiaries, Varanasi Transmission System Ltd and Fatehgarh Transmission Ltd have been fully commissioned. At the end of Q2FY22, the total transmission assets of Power Grid and its subsidiaries stood at 1.7 lakh ckm of transmission lines, 262 substations and 4.54 lakh MVA of transformation capacity.

Power Grid maintained average transmission system availability of 99.82 per cent during H1FY22 compared to 99.83 per cent in the corresponding period of the previous year.