Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, has posted a Profit After Tax of ₹2,048 crore and Total Income of ₹9,817 crore on consolidated basis for Q1FY21. On standalone basis, the Company posted Profit After Tax and Total Income of ₹1,979 crore and ₹9,620 crore respectively for Q1FY21. During the quarter, the Company recognized as an exceptional item, the one-time consolidated rebate of ₹1,075 crore to DISCOMs / Power Departments of the States and Union Territories for passing on to the end-consumers on account of Covid-19 pandemic against the billing of Apr’20 & May’20. Excluding the impact of this one-time rebate, the Company’s profit increased by 18% over the corresponding period of FY2019-20 on standalone basis.
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