Riding on the back of lower interest outgo and higher other income, hydro-power producer NHPC on Friday reported 3.64 per cent rise in net profit at Rs.2,166.67 crore in 2010-11 against Rs.2,090.50 crore in 2009-10. The sales turnover is marginally lower at Rs.4,046.59 crore during the year against Rs.4,153.21 crore in the previous year. In the three months ended March 31, 2011, the company reported a profit of about Rs.632 crore.
NHPC Chairman and Managing Director A. B. L. Srivastava told reporters here that the company would not be able to achieve the target of 3,500 MW during the XI Plan and the same would be carried forward in the XII Plan. The initial capacity addition target of the company was 5,322 MW, which was later revised to 3,500 MW. It has so far added 1,150 MW due to hurdles created by environment issues. “We will add 1,080 MW by the end of the current plan period (2007-12) and the remaining capacity addition would be carried forward to the next Plan period starting April 1, 2012,'' Mr. Srivastava said.
Mr. Srivastava said the company had lined up plans for a capital expenditure of about Rs.5,000 crore and would borrow around Rs.3,000 crore through bonds and loans. “The company hopes to resolve issues pertaining to the 1,500 MW Tipaimukh project in Manipur, which is being constructed by NHPC in joint venture with Satluj Jal Vidyut Nigam and the Manipur Government,'' he added.
At present, 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 the Mangdechhu Hydropower Authority, Bhutan, for providing engineering and design consultancy services to the 720-MW Mangdechhu hydroelectric project in the neighbouring nation. The company plans to hire about 300 people in the current fiscal.
