Power Grid Corporation of India LimitedQ1 FY27 Results & Financial Update
Power Grid Corporation of India Limited: Q1 FY27 consolidated results and company financials – total income ₹11,697.00 Cr, PAT ₹3,598.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Power Grid Corporation of India Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Power Grid Corporation of India Limited announced its consolidated and standalone financial and operational results for the quarter ended June 30, 2026 (Q1FY27).
On a consolidated basis, the company posted a Total Income of ₹11,697 crore for Q1FY27, compared to ₹11,444 crore reported in the corresponding quarter of the previous year.
Profit After Tax (PAT) on a consolidated basis stood at ₹3,598 crore for Q1FY27, compared to ₹3,631 crore recorded in Q1FY26.
Operational performance remained strong with the company maintaining an average transmission system availability of 99.80% during Q1FY27, supported by advanced maintenance techniques and automation.
01 · Business model
What does Power Grid Corporation of India do?
Power Grid Corporation of India Limited is a Maharatna Central Public Sector Enterprise operating under the Ministry of Power, Government of India, specializing in the transmission of electric power across the country.
The company's core operations involve owning, building, operating, and maintaining high-voltage transmission networks, substations, and transformation capacity that serve as the vital backbone for moving bulk electricity from generating stations to load centers.
POWERGRID drives growth through rigorous network expansion, integration of renewable energy projects, asset capitalization, and international and domestic consultancy services.
The company maintains high network reliability and uptime through state-of-the-art maintenance techniques, automation, and digitization.
02 · Historical context
What shaped the business before this quarter
POWERGRID published the Q1 FY27 financial results in its quarterly-results disclosures.
The company’s quarterly-results archive carries the Q1 FY27 financial result.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q1 FY27 | Year-ago |
|---|---|---|
| Consolidated total income | ₹11,697.00 Cr | ₹11,444.00 Cr |
| Consolidated PAT | ₹3,598.00 Cr | ₹3,631.00 Cr |
04 · Demand, customers & order book
Where demand is coming from
Under the Tariff Based Competitive Bidding (TBCB) route, POWERGRID emerged as the successful bidder in five transmission projects during Q1FY27, comprising three Inter-State Transmission System (ISTS) projects and two Intra-State Transmission System (InSTS) projects.
05 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
At the end of Q1FY27, the total transmission assets of POWERGRID and its subsidiaries stood at 1,86,595 ckm of transmission lines, 291 substations, and 6,34,516 MVA of transformation capacity.
Projects, capex and execution
The company incurred a capital expenditure of ₹7,765 crore and capitalized assets worth ₹5,277 crore (excluding FERV and including assets capitalized as finance lease) on a consolidated basis during Q1FY27. Gross Fixed Assets on a consolidated basis stood at ₹3,25,671 crore (including Gross Lease Receivables) as on June 30, 2026.
06 · Strategy & new businesses
How the company is trying to change its growth mix
During Q1FY27, POWERGRID secured a JPY 80 billion loan from the Japan Bank for International Cooperation (JBIC) to finance the landmark Khavda-Nagpur HVDC Transmission Project.
During July 2026, POWERGRID secured India's first Synchronous Condenser scheme under TBCB, aimed at providing crucial support for the integration of renewable energy into the grid.
07 · Reported developments
What changed operationally
Emergence as successful bidder in five transmission projects under TBCB during the quarter and maintaining high transmission asset availability of 99.80%.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Project Dedication
During August 2026, two transmission projects were dedicated to the nation and a foundation stone was laid for one project in Andhra Pradesh by the Hon'ble Prime Minister.
Reported update
Green Infrastructure Acquisition
POWERGRID acquired Kakinada I Transmission Limited during July 2026 for Green Hydrogen Infrastructure in Andhra Pradesh, and acquired two SPVs for renewable energy transmission projects in August 2026.
09 · Key Q&A
The quarter, answered directly
What does Power Grid Corporation of India do?
Power Grid Corporation of India Limited is a Maharatna Central Public Sector Enterprise operating under the Ministry of Power, Government of India, specializing in the transmission of electric power across the country.
What is the clearest takeaway from Q1 FY27?
Power Grid Corporation of India Limited announced its consolidated and standalone financial and operational results for the quarter ended June 30, 2026 (Q1FY27).
What drove revenue or demand?
Under the Tariff Based Competitive Bidding (TBCB) route, POWERGRID emerged as the successful bidder in five transmission projects during Q1FY27, comprising three Inter-State Transmission System (ISTS) projects and two Intra-State Transmission System (InSTS) projects.
What changed operationally beyond the headline numbers?
At the end of Q1FY27, the total transmission assets of POWERGRID and its subsidiaries stood at 1,86,595 ckm of transmission lines, 291 substations, and 6,34,516 MVA of transformation capacity.
What should the next disclosure help confirm?
New project commissioning and capitalisation.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
New project commissioning and capitalisation.
- 02
Transmission-system availability.
- 03
Any company-reported movement in consolidated income and PAT comparables.
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