NTPC Q3 net up marginally at Rs 2,371 cr

The country's largest power producer NTPC today posted a meagre rise of 0.25 per cent in its net profit at Rs 2,371 crore for the quarter ended December 31, 2010.

NTPC had posted a net profit of Rs 2,365 crore during the same quarter of the last financial year, the company said in a filing to the Bombay Stock Exchange (BSE).

However, NTPC reported 20 per cent jump in its net sales at Rs 13,421 crore from Rs 11,183 crore in the corresponding quarter of the previous financial year, it said.

The board recommended an interim dividend of 30 per cent on Rs 10 face value of the share i.e. Rs 3 per equity share. The dividend will be paid on February 14, 2011.

NTPC generates over 33,000 Mw of power from all sources of energy. The company plans to ramp up this capacity to 75,000 Mw by 2017.

NTPC has also formulated a capacity addition of about 1,000 Mw through renewable resources by 2017. Simultaneously, it will also have a capacity addition of 301 Mw through Solar PV (photo-voltaic) and thermal by March 2014.

The company recently also finalised a joint venture company, Anushakti Vidhyut Nigam, with the Nuclear Power Corporation of India (NPCIL) for developing atomic power projects in the country.

NPCIL will hold 51 per cent of the equity share capital while NTPC will hold the balance 49 per cent of the equity share capital of Anushakti Vidhyut Nigam.

A Memorandum of Understanding between NPCIL and NTPC was signed in February last year.

Financial details as well as details such as the location and types of the plants to be constructed, will be finalised later.

NTPC has set a target of generating 2,000 Mw of nuclear power by 2020.

The NPCIL-NTPC joint venture would be the first joint venture in nuclear power generation in India. NPCIL is currently the sole agency generating nuclear power in the country with a capacity of about 4,120 Mw of the total over 1,60,000 Mw of the installed power generation capacity.