NTPC, the country’s biggest power producer, has posted a 24.2 per cent jump in net profit for the quarter ended March 31. Profit for the quarter was Rs 2,505 crore, while net sales rose 17.7 per cent to Rs 14,488 crore
For 2010-11, however, net profit rose only marginally to Rs 8,826 crore (Rs 8,728 crore the year before), while net sales rose 16 per cent to Rs 53,721 crore.
The company said it planned to invest Rs 26,400 crore in 2011-12, against Rs 16,326 crore in 2010-11. At the Bombay Stock Exchange, the share price gained 1.8 per cent, to close at Rs 191.25.
While announcing the provisional numbers, chairman and managing director Arup Roy Choudhury said 50,000 Mw of power capacity was under construction. “We have plans to set up 15 greenfield (meaning, new) projects…mostly coal-based in the next five-seven years,” he said. It has received coal linkage for nine new projects of 10,920 Mw capacity. It is also reviving proposals to buy coal mines in Indonesia, Australia, Mozambique and South Africa.
NTPC is also looking at projects abroad and has so far selected the neighbouring countries of Bangladesh, Sri Lanka and Bhutan. “The feasibility report for a site at Khulna has been prepared and handed over to Bangladesh Power Development Board. For the Sri Lanka Project, a joint venture, (it) would be signed after clearance from Sri Lankan authorities and a detailed project report is underway for the Bhutan project,” he said.
Among other things, NTPC is focusing on preparing report for 620 Mw hydel power project in Bhutan and on establishing 1,320 Mw of hydro power there.