NTPC, the country’s largest power producer, may raise $500 million (Rs 2,250 crore) through external commercial borrowings (ECB) this financial year if it gets favourable interest rates. The company’s Director (Finance), A K Singhal, said they would be comfortable with a 5.6-6 per cent rate of interest.
NTPC is also looking to set up two coal-fired power plants in Kazakhstan. “We are exploring the possibility of setting up new coal power project at old stations in Kazakhstan and sourcing of fuel. Besides this, we are also pursuing coal block acquisitions in Indonesia and Mozambique,” said the Chairman and Managing Director, R S Sharma. NTPC also plans to add 4,150 Mw capacity in the current financial year, derived from eight units to be set up at six plants. The company put into commercial operations 1,490 Mw capacity in 2009-10. It is currently developing 17,830 Mw of capacity at 18 locations.
It has planned capital expenditure of Rs 29,104 crore for the entire group in 2010-11, compared to Rs 14,002 crore in the last financial year.
The company has invited bids for project equipment totalling 7,092 Mw. It has approved feasibility reports for projects with a combined capacity of 4,345 Mw and has either prepared or is preparing such reports for projects of another 15,000 Mw capacity. Sharma said they’d float the second bulk tender for four projects of 7,200 Mw combined capacity in July. It would comprise nine units of 800 Mw each.
NTPC would shortly sign an agreement to buy 1.5 million standard cubic metres per day (mscmd) of gas from Reliance Industries, he added.
The company’s profit after tax (PAT) dropped about eight per cent to Rs 1,946 crore in the January-March quarter, from Rs 2,113 crore during the same period last year. Its 2009-10 PAT increased 5.5 per cent to Rs 8,656.5 crore for the year ended March 2010, due to lower interest on income and income tax refunds in 2009-10. Last financial year, the company had a PAT of Rs 8,201.3 crore.
The company’s provisional net sales in 2009-10 registered growth of 11.3 per cent, at Rs 46,504.5 crore compared to Rs 41,791.3 crore in the previous financial year, said Sharma at the annual press conference. The unaudited gross revenue grew 9.3 per cent at Rs 49,478.9 crore in 2009-10, as against Rs 45,272.8 crore in 2008-09.