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NHPC achieves highest ever net profit after tax

Business

NHPC (formerly National Hydroelectric Power Corporation Ltd) has achieved highest ever Net Profit after Tax of Rs 2,090.50 crore during 2009-10, according to a statement released by the Ministry of Power. This is 94.43% higher than the net profit after Tax of Rs1,075.22 crore earned during 2008-09.

India’s premier hydro power utility also achieved an all time high sales turnover of Rs 4,218.90 crore which is 57.90% higher than the last year sales turnover of Rs 2,671.85 crore. The company registered an all time high sales realization of Rs 3,603.93 crore which is 48.90% more than the previous year’s realization of Rs 2,420.36 crore.
Last year in August, it had launched its IPO (Initial Public Offer) which was oversubscribed by almost 24 times with bid of more than Rs1,40,000 crore and more than 13 lakh applications. After successful conclusion of its IPO, NHPC became a listed company on both NSE & BSE w.e.f. 1st September 2009.

Highlights

Generated 16960 Million Units (MUs) against the target of 16381 million units for ‘Very Good’ MoU rating, despite a weak monsoon during the year.
Achieved 84% Plant Availability Factor (PAF) for the operating Power Stations against the MoU target of 80% for ‘Excellent’ rating.
Shri Sushilkumar Shinde, Union Minister of Power dedicated NHPC’s 510 MW Teesta Stage-V Power Station in Sikkim to the Nation.
Shri Sushilkumar Shinde, Union Minister of Power dedicated the 520 MW Omkareshwar Hydroelectric Project of NHDC – a Joint Venture of NHPC and Government of Madhya Pradesh to the Nation.
Incorporated a Joint Venture Company viz. “Loktak Downstream Hydroelectric Corporation Limited” for execution of the 66 MW Loktak Downstream Project in Manipur with a share holding of 74 % by NHPC and 26 % by Government of Manipur.
Signed MoU with SJVN Limited and Govt. of Manipur for formation of a Joint Venture Company for implementation of the 1500 MW Tipaimukh Hydroelectric (Multipurpose) Project in Manipur. NHPC, SJVNL and Govt. of Manipur shall have a share holding of 69%, 26% and 5% respectively.
Signed Agreement with Royal Government of Bhutan for providing engineering & consultancy services for the pre-construction activities of Mangdechhu Hydroelectric Project (720 MW) in Bhutan.
Signed Agreements for preparation of DPRs of Chamkharchhu-I (670 MW) and Kuri-Gongri (1800 MW) H.E. Projects in Bhutan with the Royal Government of Bhutan.
Signed Agreements for taking up Additional Investigations and Preparation of Updated Detailed Project Reports for 1200 MW Tamanthi H.E. Project and 642 MW Shwezaye H.E. Project in Myanmar as consultancy assignments.
Signed implementation agreement with Govt. of Arunachal Pradesh for India’s largest hydroelectric project, the 2000 MW Subansiri Lower project.
Signed MoU with M/s Transparency International India for implementation of ‘Integrity Pact’.
Submitted DPRs of 600 MW Tawang-I & 800 MW Tawang-II in Arunachal Pradesh and 520 MW Teesta-IV in Sikkim to CEA for concurrence. CEA has accorded concurrence for Teesta-IV Project on 13th May 2010.
Received Environmental clearance for preconstruction activities for Teesta-IV (520 MW), Dibang Multipurpose Project (3000 MW) and Kwar (520 MW).
Teesta-V Power Station of NHPC has been successfully validated under Voluntary Emission Reduction scheme.
Completed implementation of Enterprise Resource Planning (ERP) software solution within the organization to efficiently manage the optimum utilization of generating assets and expeditious implementation construction projects.
Adopted 08 more ITIs (4 in J&K, 3 in Uttarakhand and 1 in Arunachal Pradesh) under National Skill Development Mission in addition to the 03 ITIs adopted earlier.
98.22% of the employees relating to Operation & Maintenance of Power Stations trained during 2009-10 against the MoU target of 95% for excellent rating.
Electrified 2700 villages and provided electricity connections to 6 lakh BPL families under Rajeev Gandhi Gramin Vidyutikaran Yojana.

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