State owned NHPC posted around 47% jump in net profit to INR 791.05 crore for the April to June quarter and said it plans to set two hydro projects of total 400 MW capacity in Uttarakhand.
Q1 result highlights:
1. The company has achieved net profit after tax of INR 791.05 crore during the Q1 of FY 2011-12 which is 47.19% higher than the net profit after tax of INR 537.42 crore earned during the corresponding period of the previous year.
2. Registered Sales Turnover of INR 1431.41 crore which is 40.37% higher than the Sales Turnover of INR 1019.71 crore registered during the corresponding period of the previous year.
3. Board of Directors in its 335th meeting held on June 30th 2011 recommended dividend of INR 0.60 per share for the financial year 2010-11.
4. NHPC’s Operating Power Stations generated 6284 Million Units during the 1st quarter of FY 2011-12 surpassing the ‘Excellent’ MoU target of 5679 MUs by 10.7%. The generation of 6284 MUs achieved during 1st quarter of FY 2011-12 was 10.5% higher than the generation of 5689 MUs achieved during the Q1 quarter of FY 2010-11
5. During the current financial year till 9th August 2011, NHPC’s Power Stations have generated 9451 MUs against the Excellent MOU target of 8996 MUs.
6. Chenab Valley Power Projects (Private) Limited has been incorporated on June 13th 2011 for development of Pakal Dul, Kiru & Kwar projects in J&K with an aggregate installed capacity of 2120 MW.
7. Memorandum of Understanding signed with Orissa Hydro Power Corporation Limited and Government of Orissa for formation of a Joint Venture Company with OHPC to develop three Hydroelectric Projects, Sindol Stage I, II & III in the Mahanadi river basin of Orissa with an aggregate capacity of 320 MW.
8. Memorandum of Understanding signed with Russia’s largest power generating company JSC RusHydro on May 23rd 2011 for cooperation in the field of hydropower development, renewable energy sources and other areas of power generation.
9. Environmental Clearance accorded by Ministry of Environment and Forests to Tawang Stage-I and Tawang Stage-II HE Projects on June 10th 2011. Concurrence meetings for Tawang-I and Tawang-II were held at CEA on June 10th 2011 and June 30th 2011 respectively.
10. FAC has recommended for approval the forest clearance proposal of Kotlibhel Stage-IA HE Project for diversion of 258.737 ha forest land.
11. River has been successfully re diverted through Spillway Radial Gates at 44 MW Chutak H.E. Project, Jammu & Kashmir.
12. River successfully re diverted over the dam spillway on June 23rd 2011 at Chamera HE Project Stage-III (231MW), Himachal Pradesh.
