New Delhi: State-owned power generation company NTPC on Tuesday posted a nearly 13 per cent jump in its net profit to Rs 2,075.78 crore for the quarter ended June 2011, on the back of capacity addition of 2,500 MW last fiscal. Agencies
"We added a lot of capacity in the last financial year...2,500 MW, earlier we used to do average 1,000 MW," Chairman & Managing Director NTPC Arup Roy Choudhury told reporters here.
The thermal power major had posted a profit of Rs 1,841.89 crore for the April-June period a year ago.
More power generation capacity means selling more electricity through long term power purchase agreements as well as merchant power.
NTPC's sales shot up to Rs 14,524.23 crore in the first quarter of the current fiscal from Rs 13,006.26 crore in the year-ago period, it said in a statement.
The entity has an installed capacity for generation of 34,854 MW of power. NTPC has further set a target of adding 4,500 MW during the current financial year (2011-12).
"This (financial) year we will be adding 4,500 MW," Chowdhury said.
As part of efforts to tie-up funds for its upcoming projects, NTPC recently mopped up USD 500 million through an international bond issue. The company has also signed a Rs 10,000 crore (over USD 2 billion) loan agreement with State Bank of India.
On being asked about de-allocation of the company's coal blocks by the Coal Ministry over delay in development, Chowdhury said, "We are positive that we will get the coal blocks back."
NTPC's upcoming projects include the 1,320-MW Solapur plant and the 4,000-MW mega-thermal power plant in Kudgi, Karnataka.
The company also expects to commission 4,000 MW capacity gas-based power projects in the XIIth Five Year Plan Period starting April 1, 2012.
Shares of NTPC closed at Rs 184.05, up per cent on the Bombay Stock Exchange today.
New Delhi: State-owned power generation company NTPC on Tuesday posted a nearly 13 per cent jump in its net profit to Rs 2,075.78 crore for the quarter ended June 2011, on the back of capacity addition of 2,500 MW last fiscal.