POWERGRID

Shares of state-owned Power Grid Corporation of India fell over 3.5% on Thursday after the company reported a marginal year-on-year decline in consolidated net profit for the June quarter. The company posted a consolidated net profit of Rs 3,598.42 crore for Q1FY27, compared with Rs 3,630.58 crore in the corresponding quarter last year, according to a regulatory filing. Following the earnings announcement, the stock declined 3.6% to Rs 271.50, making it the top loser on the Nifty index. Despite the dip in profit, Power Grid's total income rose to Rs 11,696.72 crore during the quarter from Rs 11,444.42 crore in the year-ago period. Separately, the company informed exchanges that its board approved a Rs 856.94 crore transmission project on August 5, 2026. The project involves upgrading the Tirunelveli–Udumalpet and Pugalur–Madurai 400kV double-circuit transmission lines using high-temperature low-sag (HTLS) conductors to enhance network efficiency and reliability. During the April–June quarter, Power Grid incurred a consolidated capital expenditure of Rs 7,765 crore and capitalised assets worth Rs 5,277 crore, excluding foreign exchange rate variation (FERV) and including assets capitalised under finance leases. As of June 30, 2026, the company's consolidated gross fixed assets, including gross lease receivables, stood at Rs 3.26 lakh crore. By the end of the first quarter of FY27, Power Grid and its subsidiaries operated a transmission network spanning 1,86,595 circuit kilometres, comprising 291 substations with a transformation capacity of 6,34,516 MVA. The company also maintained an average transmission system availability of 99.80% during the quarter.