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National Energy Trading & Services Ltd, (NETS), formerly Lanco Power Trading Ltd, one of the early power trading licensees, has expanded its business activity to cover trading of coal both imported and domestic and other energy resources.
The Director of Operations, NETS, Mr M.N. Ravi Shankar, told Business Line that the company, which is a subsidiary of publicly traded Lanco Infratech Ltd, closed last year with revenues of Rs 2,520 crore and a profit of Rs 14.5 crore, facilitating trading of about 6,000 million units in 2010-11, which accounts for nearly 13 per cent of the total power traded in the country, estimated to be 45,000 mu, he explained.
“We are likely to touch 8,000 mu this year,” he said
The trading company, NETS, operates in 20 States in the country and now has operations in Australia, China, Indonesia, Nepal, Singapore and few other countries.
The company parent — Lanco Infratech – had earlier this year acquired coal mines in Australia, through its arm Lanco Resources, and rights to mine a mega coal block in Chhattisgarh and also to set up a 2,000-MW power plant.
The average unit cost traded last year was about Rs 4.20 per unit. This may come down a bit as the supply is likely to go up during the year.
The company, which earlier operated with registered office in Hyderabad, is moving its corporate office from Delhi to Gurgaon.
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