What the board approved
At its meeting on 5 August 2026, the board of Power Grid Corporation of India approved the unaudited standalone and consolidated results for the first quarter of FY2026-27, ended 30 June 2026, alongside the auditors' limited review report. The joint statutory auditors issued an unmodified conclusion on both sets of results.
The filing notes that the audit committee that reviewed the results currently comprises two non-executive directors and one executive (wholetime) director, pending appointment of independent directors.
How the quarter compared
On a consolidated basis, revenue from operations rose against the same quarter a year earlier while profit after tax was marginally lower. On a standalone basis, profit after tax was lower year-on-year — a divergence the filing attributes to movements in the regulatory deferral account and tax rather than the core transmission business.
Transmission remains the dominant segment, with consultancy and telecom making up the remainder on the consolidated statement. The company recognised transmission income partly against final CERC tariff orders and partly on a provisional basis for assets where tariff orders are yet to be issued.
Portfolio housekeeping and financing
The results carry several structural items the board has previously approved: schemes of amalgamation folding numerous wholly owned transmission SPVs into two transferee subsidiaries, and "held for sale" classification of stakes in certain joint ventures and of the wholly owned subsidiary CTUIL, slated for divestment to GRID-INDIA. During the quarter the company also acquired 100% equity in three transmission SPVs from PFC Consulting and REC Power Development.
The filing confirms no fresh bonds were raised in the quarter. Proceeds of the December 2025 private placement were reported as fully utilised, with security cover on the listed NCDs maintained.