State-run NHPC today posted a 72.62 per cent jump in its net profit in the September quarter, even as the company announced it is in talks with private firms to buy stake in hydro-power projects in Arunachal Pradesh.
"I got the offer from private players (implementing projects) from Subansiri basin to come (join) as a joint venture partner," NHPC Chairman & Managing Director K M Singh told reporters at a press conference here.
Singh also confirmed that NHPC is in touch with the Arunachal Pradesh government, which is now asking the company to implement certain ongoing projects in the state.
"But that will not serve the purpose because first they have to cancel the allotment of the project. Earlier NHPC was there in big way but state allowed these projects to private players because of their attractive offers," Singh said.
Singh said that NHPC was ready for the projects on offer in state particularly in the Siang basis of Arunachal Pradesh including other projects like Tato.
Earlier in the day, the company posted a 72.62 per cent jump in standalone net profit to Rs 1,180.84 crore for the quarter ended on September 30, 2015.
A senior company official said the bottomline jumped in the second quarter on account of higher power generation and making adjustment of around Rs 146 crore as asset in the balance sheet regarding lower Subansiri project.
The company said in a statement that the gross generation was up by 5 per cent to 8,771 million units for July-September quarter in comparison to the same period of the previous fiscal.
Besides, the plant availability factor (PAF) has been reported at 92.62 per cent as against previous year corresponding figure of 86.64 per cent.
Total income was Rs 2,679.44 crore for the quarter ended September 30, 2015 whereas the same was at Rs 2,325.01 crore for the quarter ended September 30, 2014.
The company is mainly into power generation business. Its sales or income from operations increased to Rs 2,334.24 crore in the quarter under review compared to 2,086.01 crore in the year ago period.
It said that during the half year ended on September 2015, the company's net profit rose by 50 per cent to Rs 1,948 crore as against Rs 1,300 crore in the same period a year ago.
The cumulative generation of NHPC up to October 2015 is 18367 million units against the 'very good' scenario of 16,976 MU.
