NTPC posts flat growth in FY11 net profit

The countrys largest power producer NTPC today reported flat growth in net profit to Rs 8,886 crore for the year ended March,2011,on the back of state electricity boards buying less power from the grid.

We made the power plants available,but the state electricity boards did not draw power from those projects. This led to less generation of power and therefore less revenues, NTPC CMD Arup Roy Choudhury said. NTPC had registered a Rs 8,728 crore profit during the year 2009-10. Its net sales increased to Rs 53,721 crore during 2010-11 from Rs 46,169 crore in 2009-10,an increase of 16.36 per cent. The companys net sales rose to Rs 14,488 crore in the fourth quarter of 2010-11 from Rs 12,305 crore in the year-ago period,translating into a growth of 17.74 per cent.

Meanwhile,NTPC plans to set up 15 new thermal power projects in the next 5-7 years,over and above the plants the company is currently executing,with a total capacity of about 30,000 MW. We have plans to set up 15 greenfield projects8230; mostly coal-based in the next 5-7 years, Choudhury said,adding that company is currently working on a basket of projects of more than 45,000 MW combined capacity.

NTPC generated 220.54 billion units of electricity as against 218.84 billion units in 2009-10. It has already signed an agreement with state-run State Trading Corp for 12 million tonnes and it will import the remaining itself.