Power Grid Q4 Results: Net Profit down 4% to ₹4,166.33 Crore YoY

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Synopsis:

Quarter four saw Power Grid’s net profit drop 4% while its total income declined marginally as well. Its consolidated net profit rose slightly to ₹15,573.16 Crore from ₹15,419.74 YoY

5 Key Financial Highlights

Power Grid has seen some interesting numbers in this Q4FY24. Here are some of the main highlights from the Power Grid Q4 Results:

ExplorePower Grid Corp Share Price

  • Q4 Consolidate PAT at ₹4,166 Crore down from ₹4,322.87 Crore YoY 
  • Q4 Total Consolidated Income at ₹12,305 Crore down from ₹12,557.44 Crore YoY 
  • Q4 Standalone PAT at ₹4,128 Crore down from ₹4,216.81 Crore YoY
  • Q4 Total Standalone  Income at ₹12,254 Crore up from ₹12,097.35 Crore YoY
  • Proposed final dividend of ₹ 2.75 per equity share 

Additional Read: Quarterly Results

Key Business Updates:

  • Power Grid, along with its subsidiaries, added 19,720 MVA transformation capacity, 06 sub-stations, and 4,036 ckm transmission lines.
  • The company has also successfully commissioned its 5 Tariff Based Competitive Bidding (TBCB) subsidiaries; (a) POWERGRID Ramgarh Transmission Limited, (b) POWERGRID Bikaner Transmission System Limited, (c) POWERGRID Meerut Simbhavali Transmission Limited, (d) POWERGRID Gomti Yamuna Transmission Limited and (e) POWERGRID Neemuch Transmission System Limited. 
  • In FY24, under Tariff-based competitive bidding, POWERGRID acquired 10 Inter-State Transmission System (ISTS) TBCB subsidiaries with an estimated cost of approx. ₹26,872 Crore 
  • The company also maintained an average transmission system availability of 99.85% during FY24

Additional Read: BHEL Q4 Results

Profitability Analysis:

Though the numbers coming in for its Q4 report have shown very little to no growth, the company does have a few bits of profitable information coming our way too, Here’s a list of some of them: 

  1. Power Grid’s lab was accredited for IEC 61850 Conformance Testing of  Intelligent Electronic Devices or IEDs
  2. In February 2024, Power Grid laid its Foundation Stone for Vishram Sadan at AIIMS Bilaspur, and the project will be spread across a 4641.38 sq.m. area., having four storeys, 250 beds, and will be built at an estimated project cost of ₹26.75 crore
  3. In March 2024, Power Grid signed an MoU with Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL) to establish a Joint-Venture (JV) Company that will take up projects worth up to ₹10,000 Crore in a phased manner 
  4. The company, in the entirety of FY24, also saw a standalone PAT of  ₹15,475 Crore, marginally up from ₹15,335.54 Crore YoY and a consolidated PAT of  ₹15,573 Crore, again marginally up from ₹15,419.74 Crore YoY
  5. Power Grid’s total standalone income for FY24 stood at ₹45,815.37 Crore up from ₹45,227.52 Crore while its consolidated income stood at ₹46,913 Crore. up from ₹46,605.64 Crore in FY23.

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Power Grid (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Total Income

12,305.39

11,819.70

12,557.44

46,913.12

46,605.64

Total Expenses

7,066.23 

7,076.49

7,143.22

27,808.23

29,070.47

Profit for the period

4,166.33

4,028.25

4,322.87

15,573.16

15,419.74

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of Power Grid (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Total Income

12,253.72 

11,467.61

12,097,35

45,815.37

45,227.52

Total Expenses

7,045.51

6,950.14

6,956.94

27,241.40

28,240.57

Profit for the period

4,127.77

3,970.23

4,216.81

15,474.61

15,335.54

The Future of Power Grid

Even if the numbers of Power Grid’s Q4 results might not seem too favourable towards its growth trajectory, there have been quite a few subsidiaries the company has acquired in FY24 that could probably spell a profitable FY25 for it. In the entirety of FY24, the company acquired 10 subsidiaries and commissioned 5 subsidiaries. Apart from this Power Grid also signed an MoU with RVPNL to set up a JV that is said to take up projects costing ₹10,000 Crores. The future does seem brighter for the company. 

Additional ReadONGC Q4 Results

About The Company:

Incorporated on 23 October 1989 under the Companies Act, 1956, the Power Grid Corporation of India Limited or Power Grid is an Indian central PSU or Public Sector Undertaking. At the time of establishment, the company had an authorised share capital of ₹5,000 Crore. Power Grid is owned by the Ministry of Power, Government of India, and helps in the transmission of bulk power across all the states. The company is now headquartered in Gurugram and is today responsible for producing 50% of the total power of the country.

Conclusion

Q4FY24 for Power Grid has seen losses as well as marginal growth for the company in terms of its numbers. However, to add to that, the company has also seen an increase in its on-ground functioning with its acquisitions and commissioning of various new subsidiaries. Even though the growth has not been obvious this FY24 for Power Grid, it has not been absent either.

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Frequently Asked Questions

What was the Total income that Power Grid was able to make in Q4?

Answer Field

Power Grid’s Q4 Total Consolidated Income stood at ₹12,305 Crore down from ₹12,557.44 Crore YoY while its Q4 Total Standalone  Income came to ₹12,254 Crore up from ₹12,097.35 Crore YoY

What are some of the main business updates for Power Grid?

Answer Field

Even with the ups and downs that the company faced in FY24 and Q4 of the financial year, the company still had a few business updates to report. Here is a list of some of them:

  • Power Grid, along with its subsidiaries, added 19,720 MVA transformation capacity, 06 sub-stations and 4,036 ckm transmission lines

  • The company has also successfully commissioned its 5 Tariff Based Competitive Bidding (TBCB) subsidiaries; (a) POWERGRID Ramgarh Transmission Limited, (b) POWERGRID Bikaner Transmission System Limited, (c) POWERGRID Meerut Simbhavali Transmission Limited, (d) POWERGRID Gomti Yamuna Transmission Limited and (e) POWERGRID Neemuch Transmission System Limited

  • In FY24, under Tariff based competitive bidding, POWERGRID acquired 10 Inter-State Transmission System (ISTS) TBCB subsidiaries with an estimated cost of approx. ₹26,872 Crore 

  • The company also maintained an average transmission system availability of 99.85% during FY24

What was the Q4 and the FY24 PAT for Power Grid?

Answer Field

Power Grid saw its Q4 Consolidate PAT at ₹4,166 Crore down from ₹4,322.87 Crore YoY while the company’s Q4 Standalone PAT was at ₹4,128 Crore down from ₹4,216.81 Crore YoY

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