BUSINESS

NHPC posts 5 % rise in net profit

Special Correspondent

NEW DELHI: The State-run National Hydroelectric Power Corporation (NHPC) on Thursday announced that it had posted a 4.6 per cent rise in its profit after tax at Rs. 1,050 crore for the year ended March 31, 2009, against Rs. 1,004 crore in the previous year.

The company also announced that it would be on a recruitment spree during 2009-10 and execute around nine major hydro power projects during 2009-12 taking the total generation capacity of the company from 5,200 MW at present to around 10,000 MW.

Addressing the annual press conference here, NHPC Chairman and Managing Director, S. K. Garg said the company achieved a turnover of Rs. 2,562 crore in 2008-09 against Rs. 2,301 crore in the previous fiscal, registering an increase of 11.3 per cent.

He said the company commissioned two power projects — 520 MW Omkareshwar in Madhya Pradesh and 510 MW Teesta-V in Sikkim. Seeking to expand its operations abroad, the company had signed memoranda of understanding (MoU) with the Myanmar Government and the Bhutan Government for the execution of major hydro power projects in those countries. In addition, it had signed MoUs with Jammu & Kashmir State Power Development Corporation and Power Trading Corporation for developing Pakal Dul and some other hydroelectric projects on the Chenab river basin with an installed capacity of 2,100 MW through a joint venture company.

“We signed the MoU with JKSPDC and PTC in October 2008, for three projects of 2,100 MW capacity. NHPC and JKSPDC have 49 per cent stake each in the joint venture company and two per cent is held by PTC,” he added.

NHPC had planned a capex of Rs. 21,600 crore in the XI Plan.

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