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NHPC posts Rs 2,166 crore profit in FY 2011
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| merisarkar news service May 28, 2011 |
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3.64% rise in profit: ABL Srivastava
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The country's largest hydro-power producer NHPC reported 3.64 per cent rise in profit to Rs. 2,166.67 crore for 2010-11 financial year, helped by lower interest expenses and higher other income. The state-run company had a profit of Rs. 2,090.50 crore in 2009-10.
Profit increased mainly on account of higher other income and lower expenses due to lesser interest outgo in the last fiscal, the company said.
The entity recorded a sales turnover of Rs. 4,046.59 crore in the last fiscal, slightly lower than Rs. 4,153.21 crore seen in the same period, a year ago.
In the three months ended March 31, 2011, the firm earned a profit of about Rs. 632 crore. For the 11th Five-Year Plan (2007-12), NHPC's initial capacity addition target was 5,322 MW, which was later revised down to 3,500 MW. It has so far added 1,150 MW as environment hurdles have impacted the company's projects.
"We will add 1,080 MW by the end of the current plan period (2007-12), the remaining capacity addition would be carried forward to next plan period starting April 1, 2012," CMD of NHPC ABL Srivastava said.
In the current fiscal, the firm plans to see a capital expenditure of about Rs. 5,000 crore and will borrow around Rs. 3,000 crore through bonds and loans, among others, Srivastava said.
NHPC commissioned the 120 MW Sewa-II power station in Jammu & Kashmir during the current financial year. Srivastava said the company hopes to resolve issues pertaining to the 1,500-MW Tipaimukh project in Manipur, which is being constructed by NHPC in a joint venture with Satluj Jal Vidyut Nigam and Manipur state government.
"Now there are no pending issues with the Tipaimukh project, we have resolved all the local issues," he noted. Currently, the company is working on ten projects having a total capacity of over 4,000 MW. Five of them are expected to be completed in the next ten months.
NHPC has signed an agreement with Mangdechhu Hydropower Authority, Bhutan for providing engineering and design consultancy services to 720 MW Mangdechhu hydroelectric project in the neighbouring nation. The company plans to hire about 300 people in the current fiscal.
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