NHPC Q2 net profit up 28% on higher output

NHPC today posted 27.8 per cent rise in standalone net profit to Rs 1,554.6 crore for the September quarter, driven by higher generation, better operational efficiency and tariff finalisation by CERC for some of its plants.
The state-owned hydro-power major had posted net profit of Rs 1,215.6 crore for the July-September period of the last financial.
In the second quarter of the current fiscal "we have achieved more generation", said NHPC CMD KK Singh.
Besides, the company has received some of its arrears as well as contained operating cost, he told reporters here, adding that these were the three main reasons for increase in net profit.

The gross generation of the company was up by 2 per cent to 8,941 million units (MU) during the July-September quarter compared to the year-ago period.
"NHPC registered (more) generation in the second quarter ...8,941 MU, whereas in corresponding period of last financial year it was 8,770 MU," Singh said.

The realisation of dues stands at Rs 3,275 crore, he said, as against billing of Rs 4,140 crore as on September 30.
He said the 520 mw Parbati III power station in Himachal Pradesh was dedicated to nation in October.
Singh further said that with regard to 2,880 MW Dibang

project in Arunachal Pradesh the detailed project report (DPR) has been revised and has been accepted by Central Electricity Authority for examination.
As far as solar space is concerned, he said NHPC has signed PPA with Tamil Nadu government for development of 50 MW and "we are proceeding ahead with the installation of 50 MW solar plant".
On the 770 MW Chamkharchhu project in Bhutan, he said: "We are expecting of the signing of the MoU with the Government of Bhutan very soon."
He said that around "3130 MW is under construction and around 5,000-6000 MW is in the pipeline. Other than that around 500-600 MW is in the survey and investigation stage".

NHPC has installed capacity of 5147 MW on standalone basis and 6,717 MW on consolidated basis with a total of 22 operating power stations.
On the company's planned investment for the ongoing fiscal, Singh said: "Our budget was around Rs 4,000 crore and we are revising it to Rs 3,150 crore. So far we have spent Rs 1,600".
On dues to NHPC by state distribution companies, he said that "as on date our dues are around Rs 2,600 crore".
Dues from Uttar Pradesh discom are at around Rs 650 crore, while that from Jammu and Kashmir is about Rs 750 crore, he said.

"Dues from Rajasthan discom is around Rs 200 crore," he said.