DVC eyes Rs 552 cr profit in current fiscal

After posting a net profit of Rs 19 crore during the fourth quarter of last fiscal, Damodar Valley Corp (DVC) is aiming at a Rs 552 crore profit for the current fiscal, an official said on Friday.

"We have posted a net profit Rs 19 crore in the fourth quarter ended March 2018 after a gap of 15 consecutive quarters. However, overall loss stands at Rs 870 crore in 2017-18. We are now targeting Rs 552 crore profit in 2018-19," DVC Member-Secretary and Acting Chairman P.K. Mukhopadhyay told reporters here.

According to him, operational efficiency, aggressive cost control along with sale in power exchange and exports, positive outlook on power demand and retaining and running Raghunathpur thermal power plant with higher capacity utilisation will help the power producer to earn more revenue.

He was optimistic of achieving Rs 2,739 crore additional revenue compared to revenue of Rs 15,729 crore in 2017-18.

The power producer has terminated the MoU with NLC India (Neyveli Lignite) to hive-off 1,200MW Raghunathpur thermal power plant into a joint venture, despite the West Bengal government's nod for the same.

The Raghunathpur power plant, which was operating at about 400MW, will start generating about 800MW from May-June and a full-load generation is expected from early next year after completion of rail connectivity, he said.

"Raghunathpur thermal power plant will be the cheapest power plant in which fixed cost will come to Rs 1.65 per unit based on Rs 9,300 crore cost. The cost is yet to be vetted by the Central Electricity Regulatory Commission," he said.

--IANS

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