Npcil Announces Rs 225cr Net

The Nuclear Power Corporation of India (NPCIL) has announced a net profit of Rs 225 crore for 1997-98. The sales turnover for the year was Rs 1357.15 crore.

NPC officials said all the eight nuclear power plants in the country achieved a caapcity factor (CF) of 71 per cent which was higher than average CF of thermal plants standing at 65 per cent. The total power generated was 9618 million units.

The 1998-99 generation is over 8 per cent that of the 1996-97 generation which was so far its most productive year.

The good showing was due to the Narora plant which was under repair for nearly 3 years from 1993, recovering to work upto 80 per cent capacity generating some 1200 units of power. Similarly, the Rajasthan plant too turned in 82 per cent performance after replacement of its coolant channels, a part of the nuclear reactor's core. The plant had been shut down for six months in 1996-97 but reopened near full capacity.

The NPCIL is expecting to turn in better performance this year too as it has announced a generation of 2415 million units during Q1 of 1998-99. "Financial performance too should improve", NPC officials said.

The NPCIL has started a strict recovery regime from state electricity boards, but is still saddled with outstandings of some Rs. 400 crore. Highly places sources said the government has instructed all SEBs to pay up the NPC's dues to help the corporation get back on its feet.

Official sources said the NPCIL is working out a detailed package to invite the private sector in nuclear power plant building. It has invited leading engineering and construction companies like L and T and Godrej and Boyce to form consortia to build its next set of plants.

The good financial results may help it to raise loans from the market to meet working capital needs and finance on-going construction like the Kaiga plant in Karnataka.

The NPCIL cannot raise cheap loans from international infrastructure lending institutions due to the Pokhran tests and this has been a major damper to its liquidity.

The sources said a new financing package is being worked out to make available funds marked for infrastructure for nuclear plants.

It was still unclear how this would work but the NPCIL was very serious about accessing cheap funds.