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| NHPC's profit rises in second quarter, but power generation slips? | | | Early Times Report
JAMMU, Oct 31: As per unaudited financial results for the half year
which ended on September 30, 2011, NHPC Limited has earned net profit
of Rs 1,757.52 as against Rs 1,227.6 crore earned during corresponding
period of previous financial year, thereby registering an increase of
43.17 percent.
Registered sales turnover of Rs 3,329.05 crore which is 42.49 percent
higher than the sales turnover of 2,336.33 crore registered during the
corresponding period of the previous year. NHPC’s Operating Power
Stations generated 13372 Million Units (MUs) during the half year
ended 30th September 2011 surpassing the ‘Excellent’ MoU target of
12977 MUs by 395 MUs.
The generation of 13372 MUs achieved during the half year ended 30th
September 2011 was 3 percent higher than the generation of 12874 MUs
achieved during the corresponding period of the previous year. During
the current financial year till 27th October 2011, NHPC’s Power
Stations have generated 14655 MUs against the Excellent MOU target of
14214 MUs.
NHPC paid a dividend of Rs 738.04 crore to shareholders at Rs 0.60 per
equity share including Rs 637.40 crore to the Govt. of India for the
financial year 2010-11. The dividend of Government’s share was
presented to Sushil Kumar Shinde, Union Minister of Power on September
29, 2011. This is the highest ever dividend paid by the Company since
its inception.
States of Sikkim and West Bengal were severely affected in the
aftermath of the devastating earthquake that struck in the evening of
18-9-2011. Major structures at NHPC Power Stations and Projects in
these States are safe, although damages occurred to some buildings and
roads. NHPC was able to restore generation from Teesta-V and Rangit
Power Stations in Sikkim within 6-8 hours of the quake.
Chenab Valley Power Projects (Private) Limited” has been incorporated
on 13.06.2011 for development of Pakal Dul, Kiru and Kwar projects in
J&K with an aggregate installed capacity of 2120 MW. Promoter’s
Agreement signed on 22.10.2011 with SJVN Limited and Government of
Manipur for setting up a Joint Venture Company for implementation of
1500 MW Tipaimukh Hydroelectric (Multipurpose) Project in Manipur.
NHPC, SJVN and Govt. of Manipur will have an equity participation of
69 percent, 26 percent and 5 percent respectively in the JVC.
Memorandum of Understanding (MOU) signed on 21.07.2011 with Orissa
Hydro Power Corporation Limited (OHPC) and government of Orissa for
formation of Joint Venture Company with OHPC to develop three
Hydroelectric Projects, Sindol Stage I, II and III in Mahanadi river
basin of Orissa with an aggregate capacity of 320 MW.
Memorandum of Understanding (MoU) signed with Russia’s largest power
generating company JSC RusHydro on 23.05.2011 for cooperation in the
field of hydropower development, renewable energy sources and other
areas of power generation. The Permanent Court of Arbitration at The
Hague, in the matter of Kishanganga Project, has passed its order on
interim measures on 23-09-2011.
Accordingly, construction work at the project can continue in the
water conductor system, temporary bye pass tunnel excavation below the
river bed and sub surface foundation of dam. CEA has accorded
concurrence to Tawang–II HE Project (800 MW) on 22.09.2011 and
Tawang-I (600 MW) on 10-10-2011. River has been re-diverted at Nimoo
Bazgo HE Project on 21.10.2011.
FAC has recommended for approval the forest clearance proposal of
Kotlibhel Stage-IA HE Project for diversion of 258.737 ha forest land.
Tunnel Boring Machine has been commissioned and boring of HRT has been
commenced w.e.f. 13-05-2011 at Kishanganga H.E. Project (330 MW),
Jammu & Kashmir. In Parbati-II Project, Dam and Intake concreting
(175000 cum cumulative) has been achieved on 27.06.2011 with excellent
MoU rating.
Public Hearing of Loktak Downstream HEP has been conducted on
07-06-2011. Initial reservoir filling at Uri-II HE Project was
accomplished on 18-08-2011. Web casting of events from NHPC Corporate
office was launched on 04.04.2011. This would enable employees to
events live from all locations connected to NHPC network. Work of
Renovation & Modernization of Varzob HE Project in Tajikistan is in
progress as per schedule. Major civil works have been completed in
March 2011.
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