The Hindu Business Line : NTPC annual net up at Rs 5,292 cr

Mr C. P. Jain, CMD, NTPC, addressing a press conference in New Delhi on Friday. Also seen are (from left) Mr Chandan Roy, Director, Operations, Mr P. Narasimharamalu, Director, Finance, and Mr K.K. Sinha, Director, HR (extreme right). - Kamal Narang

New Delhi , April 8

NATIONAL Thermal Power Corporation (NTPC) today said its gross revenue in fiscal 2004-2005 fell 3.5 per cent to Rs 25,058 crore, from Rs 25,964 crore during the previous financial year.

The utility, which is the world's sixth largest power producer, recorded a marginal increase in net profit at Rs 5,292 crore during the last fiscal.

Announcing the provisional results for 2004-05, the Chairman and Managing Director of NTPC, Mr C.P. Jain, said the company plans to invest Rs 8,550 crore during the current financial year.

NTPC added 2,000 MW during the last financial year, taking its total capacity to 23,749 MW, Mr Jain told newspersons here. Of the total investment, NTPC would resort to Rs 5,826 crore borrowing from both domestic and overseas markets.

"We shall be raising up to Rs 4,526 crore from banks and FIs, while Rs 1,300 crore would be raised through external commercial borrowings in the form of euro bond issue," Mr Jain said, adding the corporation was confident of meeting its target of adding 9,160 MW during the Tenth Plan period.

Till now, NTPC has commissioned 3,500 MW of the Tenth Plan target. In the current fiscal, it would be adding 710 MW and the remaining 4,950 MW would be added in 2006-07, he added.

Mr Jain said NTPC had achieved 100 per cent collection from all the States in 2004-05, with Bihar paying the entire outstanding of the year on March 31. He said as on date there were sundry debts worth Rs 2,749 crore and the matter was being pursued to clear all the debts from some States.

"All States are maintaining Line of Credit equal to 105 per cent of average monthly billing as per one-time settlement scheme and making full payment of the current bill," Mr Jain said.

NTPC, which raised over Rs 2,600 crore through its maiden public offering in October last year, has planned to add 17,333 MW in the Eleventh Five Year Plan. Projects with a capacity of 9,417 MW were under construction, Mr Jain said.

In order to meet coal shortages, the corporation has been actively participating in captive mining bidding and has already been allotted a block. It has also applied for 15 other coal-mining blocks.

Mr Jain said that with a share of 20.15 per cent in the total installed capacity of the country, NTPC generated 27.09 per cent of the total electricity generated in the country during 2004-05.

The company's stations recorded the highest ever plant load factor (PLF) of 87.5 per cent in 2004-05, as against a PLF of 84.4 per cent during the previous fiscal.

The company's coal stations achieved an operating availability of 91.2 per cent, he said. The company also recorded highest ever generation of 159.11 Billion Units in 2004-05, as against 149.17 Billion Units during the previous year.

The company's borrowings during the last financial year stood at Rs 3,009 crore for on-going projects while capital expenditure incurred in 2004-05 on capital schemes was Rs 5,297 crore, compared to Rs 4,580 crore in 2003-04.

In all, work for 2,600 MW capacity for gas project expansion at Kawas and Jhanor Gandhar is expected to start shortly, while the main plant packages for 4,460 MW capacity for Sipat-I, Barh and Bhilai Expansion Power Project have been awarded.

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NTPC annual net up at Rs 5,292 cr — To invest Rs 8,550 cr this fiscal