Sarkaritel.com News and
NHPC posts Rs. 2,166 crore profit in FY '11
New Delhi, 28
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
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.